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A sexual term for when you stick a Pimento Pepper slice into your Piss Hole and present it to a female. If done correctly it will resemble a stuffed olive. She will attempt to suck the Pimento Pepper out mimicking sucking the pepper out of an olive. Giving her a goal will push her to be the best. Keeping time for later comparison is optional.
"Bro, I surprised that slut with The Olive last night and she knew exactly what to do. I think she beat that last girl's record by 45 seconds. Truly Amazing"
The Olive by Gospeedgo May 3, 2009
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the olive theory

The Olive Theory is a theory in which if one person in a relationship loves olives, and the other hates olives, the two are meant to be. (Originated from "How I Met Your Mother")
Person #1: (to significant other) "how do i know that this will last?"
Person #2: the olive theory! Do you like olives?
Person #1: i hate olives!

Person #2: i love them! We are meant to be!

The Olive Garden 

A term used when talking about having sex with an ex girlfriend/boyfriend after you already broke up with them.

Term stems out of the idea that nobody means to go to the Olive Garden, they just end up there.
1)That's the guy that dumped my last year. We are so going to the Olive Garden later.

2)A week after we broke up we went to the Olive Garden.  It was way awkward afterwards.
The Olive Garden by damber3222 October 28, 2009

the olive theory

so basically, it referes to the theory from how i met your mother which says that the potential of a relationship is determined by whether one person in the relationship loves olives while the other one don't. In this case, the one who hates olives gave them to the other so they completed eachother. But the theory is not just about opposing points fitting well together : the most important thing is about willing to sacrifice something you love, to give it to the other.
Ted Mosby, HIMYM : The olive theory is based on my friends Marshall and Lily : he hates olive, she loves them. In a weird way, that's what makes them such a great couple.

Later, Marshall actually admitted that he liked olives but gave them to Lily because she loves olives more

tainting the olive 

When two men rub their assholes up and down the each others taint.
Tim and Linus were tainting the olive for hours last night. When they awoke they were chaffing like no other.

Unvirgining the Olive Oil 

When you go to the store, grab a bottle of virgin olive oil, and bring it to the big bathroom stall. Insert your shl0ng and use it until you nut, then put it back on the shelf.
I'm unvirgining the olive oil, mom!

Wash the olive oil off my hands 

When a man is at dinner and there is a chick so hot at the next table that he can't wait until he gets home to rub one out. So he goes to the bathroom to get release.
Dude, there was this chick in a short black dress at the next table that was amazing. She was so hot, I needed to Wash the olive oil off my hands.