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One eyed milkman

A penis. The one eye being the hole and the milk being cum. Masturbating can be said as "Shaking hands with the one eyed milkman"
Stop shaking hands with your one eyed milkman and get a real chick.
One eyed milkman by 3lit3 October 22, 2008

One eyed milkman

Slang for:
cock, penis, knob, donald trump, dick, meat, snake, sausage, etc.
Rick: Did you see Paul last night?

Dave: Nah mate, I heard he was wasted though!

Rick: Mate! Wasted is an understatement! He got up on the table and got his one eyed milkman out in front of the whole pub.
One eyed milkman by I catch dinosaurs September 28, 2011

Shaking Hands With The One Eyed Milkman 

In simple terms, going for a Wank.
Mark: What you doing later??
Lewis: Shaking hands with the one eyed milkman then off to bed.