Slang. It means can I have sex with you? Brian propositions Lois by using the band names Wham!, Oingo Boingo and Velvet Underground. On the pool scene in the censored version Brian says, "Can I Wham my Oingo Boingo into your Velvet Underground?" In the uncensored version he says "I would eat your poop."
Brian: can I could I wham my oingo boingo into your velvet underground? Lois: wym? Brian: can I have sex with you?
by B-rizzle July 6, 2019