Another term referring to a woman's breasts, particularly large breasts.
SOMEONE : "Hey if we go back to war we should bring bazookas next time."
ME : "*staring at some hot, big-breasted babes* Only if I could bring THOSE bazookas with me. ^-^ "
Quite simply, someone's ass or buttocks in lieu of pain or a spanking on their rear end. Generally the party in question is too old for such treatment so it is comical and embarrassing.
The punishment is also generally done by more than one person who are in agreement of the action to follow.
From Open Season,
"Try that again and you'll get knocked off your funnyblown bahookus !"