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1. A red skinned sausage. Usually avaliable from the local chippy.

2. A penis.
1. Slip me a sav n chips in the frier please smiler. I love a nice well oiled savaloy or savloy

2. Sister Shirl 'ol son will suck ya Sav, untill ya head caves in.
by sQuickDrill August 27, 2006
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A penis that has a STI so the forskin is really tight red and inflamed.
DUDE.. you're dick looks like a savaloy. Who the hell have you been fucking?
by LUCYMOURING# May 16, 2010
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