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To be possessing an incredibly humongous and meaty penis that is also complete with rather large testicles behind it.
If you have ever played the video game Grand Theft Auto: Vice City and have also have played the part where you(as Tommy Vercetti) get to run a porn film studio, you may also remember this quote from the porn film director(when he talks to the female porn star Candy Suxxx) you were working with:

"Oh COME ON darling! He's hung like a sperm whale for pity's sake, how can you not feel the part?!"

Mark H. Contributing to the universal English sexual slang vocabulary on UrbanDictionary since February 2004.
by Mark H May 04, 2005
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