Mainly a tradition of the D-Club, "jingledinking" is the act of tying holiday bells to your semi-chubbed shaft and dancing (similar to the Ribbon Dance, but without the ribbons) around a holiday object (e.g., Christmas Tree, Menorah) in a completely heterosexual way.
"Hey, guys. I know we're all straight, but since it's the holidays, we need to celebrate. Whip out your dink and let's jingle. It's the season for jingledink."