Legendary quote by Frank Zappa from the song "Little Rubber Girl".

"Three Holes, No Waiting" refers to the opportunity provided by the mouth, vagina and anus for intercourse/simulated intercourse. Also known as the Full House, amongst other things.
John: "I'm ready for my Booty Call."

Sarah: "Gosh John, I'm Cracking an Egg and have a toothache."

John: "Three Holes, No Waiting."
by PopeMichael March 30, 2010
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When a girl has sex with 3 guys simultaneously and her mouth, butt, and vagina are all being used at the same time.
Sally went into a room with three guys and there is definitely some three holes no waiting going on.
by Antone the Mantone September 17, 2013
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