When a women is so wringingly wet downstairs it makes a mess of her undergarments and runs down her legs.

It means ... it's a great-idea-but-possibly-not-and-I'm-not-being-indecisive!

Originating from a Monty python, splunge is a way of saying that you have no worthy opinion and that an idea could or could not be good. It could also be a quick comeback if you do not have an answer for a question.

"It's a good idea, but maybe not, and I'm not being indecisive"

A medical conditon, primarily affecting homosexual men, who when giving oral sex, breath in at the time of their partners ejacuation. Thus results in the Spunk being aspirated into the lung. Therefore resulting in spunk on the lung, or Splung. The sufferer, will result in having a cough, and may develope pneumonia unless treated quickly.

Splunge, there is really no other definition for it.

To take a big shit.