When you wife sees you getting out of the shower and laughs. You say what's so funny? She answers ...your nuts are wrinkly and twisted like a Turkey gobbler.
A physical gesture. When one person goes for a high-five and the other gives them one with a bald up fist (making the combined hands look like a turkey) and says "Turkey!"
A rather effective method of instilling great fear in someone by constantly sending them death threats. The term was coined by Alucard from TeamFourStar's Hellsing Abridged series in one of his many death threats to the pope.
"I wanted to send you this friendly little letter to inform you of your eminent demise. If you're curious about the frequency of which I've sent these letters, is to merely instill as much fear as I can. As if basting a turkey, which I will then proceed to have sex with. THAT'S RIGHT, I'M GOING TO FUCK THE FEAR TURKEY!!!"
-Alucard (AKA TheCrimsonFuckr)