Can be used in two ways:
1)To refer to an obese woman's camel toe.
2)To refer to a man who is splitting his package in two with the seam of his overly tight pants.

NOOOO! It has nothing to do with women! It's the male version of a camel toe, a large unsightly bulge in a man's pants be they spandex, blue jeans or business!

Because camel toe has an ugly sister.

A very noticeable bulge beneath a tight clothed males waist line, more popularly known as a hard on or erection. Due to the restricted room for the dicks extension, it fails to fully protrude outward, thus, remaining hindered and resembling an intriguing mound-shaped growth instead. Women have camel toes and men have moose knuckles (which is actually pertaining to the knee on a moose).

The male version of camel toe.
When your balls show through your tight clothing

similar to camel toe this refers to situations in which a female's pants are sooo tight that it gives the appearance of fat lips being separated, moose knuckle is the same thing except it refers to women pushing maximun density (over weight, fat, obese.)

Male version of a camel toe.
The man camel toe occurs when a guy wears pants that are too tight around the crotch. The pants are also called nut huggers.