Refers to the use of the app Yik Yak, which is basically anonymous twitter confined to a certain area; used mainly by students. Also a pun on jacking off.

(noun) A successful type of theft which results in an acceptable, impressive and rewarding payday for the protagonist.

1) - Talking on and on and on without saying much of anything of substance.
2) - Spending way too much time telling people how wonderful you are
Other versions: "Yak Off" and/or "Yakked Off"

Spending countless hours on the social media app "Yik Yak". Much like jacking off, it can be an extremely pleasurable activity.