Along the same lines as a visit from Tooth Fairy, a visit from the Colon Fairy is when awoken in the morning with a burning sensation on the inner walls of the anus from the penetration of a foreign object, usually a gay mans tool.
"Dude, Josh told me he had a visit from the colon fairy last night. The sad part is it sounded like he liked it"
by Josh Fusaro, Josh Mattscheck August 31, 2006