bobbing the boloney:

Of a male, engaging in the act of masturbation . See masturbation-male for synonyms.
See Also: bent as a nine bob note, bob, camp as a row of tents, jizz spider, nine bob, queer as a football bat, queer as a nine bob note, queer as a nine-dollar bill, queer as a square egg, queer as a three-dollar bill, thingumbobs

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