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1) The show within a show on "Home Improvement" starring Tim Allen.

2) What Tim Allen experienced in the prison shower during his three year sentence.
"It's tool time!" said Tim Taylor on the cold open of Home Improvement.

"It's tool time!" said the 280 pound tattooed inmate to Tim Allen in the shower when he dropped the soap.
by teambuildingexercise99 January 19, 2010
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2
pl. (N)- the social gathering of awkward people who lack the mental capacity to understand that they being used as an instrument to please one that is higher in a social standard.
During lunch one can see the tool time lunch table doing another person's homework.
by checktard-freytag October 21, 2011
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3
1. one who appears to be hard and too cool for the rest when in reality most people in the group hate him.
2. time upon which the tool enters the room

syn: douchebag, outkast
"there's tool time tagging along with sarah again."
"look here's here... it's TT"
by Drainer June 21, 2005
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4
Slang for smoking cheapo marijuana. Comes from the practice of Mexican construction workers hiding in the tool shed while getting high.
"Hey Pancho man, I need a little tool time, chico!"
by papafunk April 07, 2005
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5
When one has an urge to pleasure oneself through the means of manual stimulation i.e. wanking.
"Aw yas, the burd's oot the hoose and ma internet's working again...it's tool time!" "Here, a cannay wait till that film wae the Olsen twins are on tonight - tool time!"

by Chisel June 14, 2008
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6
A time that occurs when a group of toolies get together for a time of mentally retarded celebration.
Guess what!!! Eet ees tool time with Ash-hole & Megarrhea!!! YAY! YAY!
by AshleyLauren November 28, 2005
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