The name of a Bob Dylan song. Indicative of a place where people who do not fit into society(free thinkers and artists) go to live. It does not necessarily have a negative connotation. Often visited by posers attempting to look cool by hanging out with the real free thinkers.
When you get your ladies beaver all hot and horny and then you stick in your 1 inch cock - she realizes what a disappointment and therefore her beaver becomes deflated
I gave my girlfriend my massive 1 inch cock which led to a deflated beaver