Largely thought of as Stolypin's (the minister for the interior in Russia between 1906 and 1911) purges on the opposition to the Tsar. However it also refers to tying string (not too tightly) to the base of the penis in order prologue the wanking process.
"Hey Dave, you should try Stolypin's Necktie sometime... I was pumping away for 2 hours last night, but don't tie it too tight or you'll rip your cock off"
by ThePizzle May 28, 2009