The phrase is taken from the Jimi Hendrixx song 'Let me stand next to your fire.' In this case, 'fire' refers to a joint or a blunt, and by saying 'let me stand next to your fire', you are asking to get a hit of what they are smoking.
(To a person smoking a blunt, or joint.)
"Hey Joe, let me stand next to your fire."

by Jim Rhodes February 14, 2008
Get the let me stand next to your fire mug.
When you hear this, it means someone is requesting to put their face next to your butt-hole.
Whenever Jimi Hendrix used the phrase on stage, the bassist would launch a scorching fart in his face. He claimed it helped him "think outside the box."
At the wedding reception, when Mandy asked John to "let me stand next to your fire!" she didn't realize he had been holding in gas since the toast. He unleashed a furious wind upon her, lashing her hair back, and singeing off her eyebrows and nose hair. She pretended to be offended, but the clarity of mind was all that she had hoped for, and more.
by Sir Richard Branson February 14, 2008
Get the Let me stand next to your fire! mug.