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Wank-it Blanket 

"Hey thats my Wank-it Blanket your sleepin with!"
Wank-it Blanket by ElShenanigano14 October 25, 2007

Blanket Wank

The act of wrapping a blanket around one's penis and thrusting furiously. This type of behavior is usually found in frustrated teenage boys or lonely men alone in a room at a party.
I just had the most furious blanket wank ever
Blanket Wank by AledLlyr November 23, 2011

Wank-It Blanket 

The blanket you use to masturbate.
"Hey thats my Wank-it Blanket your sleepin with ya know"

Wankblanket 

(n.) An absolute, complete, and unbelievable tosser. One whose existence has outlived their usefulness, like a blanket completely glazed in semen.

Modifiers include, but are not limited to: supreme, shit-sucking, insufferable, etc.
Guy 1: Last week, Nate was being such a shit-sucking wankblanket, I just had to deck him in the face.
Guy 2: What was he doing?
Guy 1: He just kept trying to get me to battle! It was pissing me off.
Wankblanket by N00berson McGee September 12, 2016