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1. A hat one only wears for the occasion of masturbating, usually comical or unusual in nature, e.g. a jesters hat (with bells) or an oversized cowboy hat. However, any hat is acceptable to wear, as long as it is worn only for this purpose.

2. A person highly irritating in nature and low in popularity, who has deserved the indignity of being compared to an object of ill repute, in this case a wankhat.
1. Sam: "Hey New Kid, why are you wearing a spinner hubcap on your head?"

New Kid: "Oh, that's my wankhat. I just finished whacking off while reading 'Pedophile Journal Weekly'. Wow I need to clean up. Where's the shower?"

Sam: "That's well gross. You're a fucking freak. Don't ever talk to me again. I hope you fucking die."

2. Beau: "Matt, you are the biggest wankhat to ever befoul our fair civilization."

*Everyone points and laughs*

Matt: "Sob. I'm going to go write some depressing poetry and imitate a mop."

*Matt runs off crying*

*Everyone points and laughs*

All: "Jeez, what a wankhat! Hopefully he kills himself!"
wankhat by Redhead and the fat man January 16, 2009
Related Words

Wankation 

Portmanteau of wank + vacation.

Wank is the slang British English term for Masturbation.

A wankation is any day(s) off taken for the sole purpose of releasing steam and masturbating several times a day.

Applies to both males and females.
Jane: Hey John you've been very stressed lately, is everything okay?
John: Yeah, my boss has been busting my balls for the quarterly report deadline coming up. Luckily, I've got a long 5 day wankation coming up next week. My target is going to be 8 times a day every day, wish me luck.
Jane: Oh John that is impressive, no one has ever sustained that many wanks in 5 days. You are one lucky guy.
*John thinking to himself: Ummm, maybe I ask her Jane to join me, we can mutual wankation the hell out of each other*
Wankation by Detective Chet Mahogony December 10, 2012

Wankatorium 

Similar in utility to a Crematorium or Sanitarium, a Wankatorium is place where people go to pleasure themselves. They are commonly focal points for communities that engage in group masturbation. Well known establishments include the Peniston Wankatorium which hosts the annual Wankathon and the Fist of Fury competition. It is also popular for its group discounts on 10 wankers or more and it's COGOF offers (crack one, get one free).
I'm going the Wankatorium with my friends so we can engage in some flaccid chit chat
Wankatorium by DickyDoesDallas October 9, 2022

Wankatronic 

Something so incredibly uncoolthat it should never be said in the company of others.
Guy 1: Why did the chicken cross the road?
Guy 2: Oh! Don't tell that joke, it is soo wankatronic!
Wankatronic by Jack De April 24, 2008

Wankhand 

Insult.
Refers to the hand with which you wank.
"Don't touch me you Wankhand!"

wankathon 

Timed event, usually done by males, counting the number of times he can ejaculate within a given period.
Jim had 50 sponsors for his 24 hour wankathon, he managed to jack himself off 126 times and raised £400 for charity.
wankathon by zygmund July 27, 2003