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Pappy's Old Dress Sock 

A dirty, used condom belonging to an elderly male. Typically never thrown away and usually disposed of in an improper manner like left on the floor, in a bed pan for the nurse, on the back of a golf cart, or on the sidewalk.
Frank was walking in to the nursing home to visit his grandmother when he spotted Pappy's Old Dress Sock tossed in the corner of the lobby.

gentleman's dress sock 

a more sophisticated term, and one that can be discussed out loud without embarrassment at the restaurant or lounge, for condom.
Buffy: Charles, this has been an incredible dinner. Perhaps a nightcap at my place should you have a gentleman's dress sock