Vegemite is an Australian delicacy which is very dark brown in colour and of viscose consistency, it is somewhat reminiscent of fecal matter.
A mans anus is choc-full of fecal matter, which is somewhat reminiscent of Vegemite; ergo, etc...i

Anal sex between men establishes a pumping motion, reminiscent of drilling.

Therefore, it is logical that the act of anal sex between two consenting men of (or exceeding) the age of consent be referred to as Vegemite Drilling and the men themselves be named Vegemite Drillers.
Those two Vegemite Drillers will be drilling for Vegemite until someone ruptures a sphincter.
by fat.cunt.with.a.tiny.cock April 26, 2015
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An Australian term for a gay dude. Vegemite is a brown paste that looks like poop commonly found in Australia as a kind of edible spread. Poop is found in the butthole. Gay dudes go into other dudes buttholes. They often come out with poop on whatever part of their body they used to enter the other dudes anal cavity. Thus when they "pack the fudge," they are in fact mining for Vegemite as well.
Bob: Yo so that dude is the biggest vegemite miner ive ever met.

Joe: Ya bro i know. hes completely gay. what a flamer.
by BD72 February 14, 2009
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vegemite sandwich
Code word used by homosexuals for getting your ass licked. Vegemite sandwich was originally popularized by “men at work” in their 80’s song “Downunder”.

There are numerous references to the homosexual community in the song. Read the excerpt below and see the “Real Meaning”.

"Buying bread from a man in Brussels
He was six foot four and full of muscles
I said, "Do you speak-a my language?"
He just smiled and gave me a vegemite sandwich"
Bruce gave me the best vegemite sandwich I've ever had.
by Mattinho August 4, 2006
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Larry the homosexual was a frequent visitor to 'vegemite valley'.
by Gonad Man August 15, 2003
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A slang term rarely used in Australian Rules Football for premierships that were won before 1950, by supporters of clubs who were unsuccessful in the era of the grand old game’s early champions such as Dick Reynolds, Jack Dyer and Roy Cazaly. Supporters who use this term are trying to hide the unsuccessful and possibly queer beginnings (Hawthorn Mayblooms) of their own club, by weakly implying older premierships are less worthy because the sport hadn’t reached the massive business status of today’s age.
“Wow Essendon have won 16 premierships!!"

"yeah, well about nine of those were vegemite cups."

“Of course a Hawthorn supporter would say that, founded in 1902 and didn’t win a flag until 1961.”
by PsychoticApe September 30, 2009
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A dirty pregnant Australian whore with fake breasts.
Look at that Vegemite kid over there sucking penis. Gross.
by Dominator187 March 30, 2009
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A reference to anal intercourse.

Australian origin, their yeast extract being similar, but inferior to, the English Marmite product.
I told him there was no way he was drilling for vegemite with me.
by Oxford English October 22, 2007
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