1) Noun: The term used for small people (generally adult dwarfs) who's eyes meet the breasts of a woman. In other words, when a man's eyes are perpendicular to a woman's nipples - which, when erect, could result in blindness.
2) Noun: The term used for the binoculars that a peeping tom uses for the activity of looking at a woman's breasts from afar.
1) She was so tall against me it was like I was wearing a pair of booboculars!
2) I looked across the road and saw a man in the bush with a pair of booboculars in his hands!
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.