Punching the Blanket
When a man masturbates underneath a blanket, and it appears as if he is punching the blanket due to the rapid up-and-down movement of his hand. This can also be used as a joke by a guy who wants to appear as if he is masturbating, however when he is asked what he's doing, he simply says, "I'm punching the blanket."
Mike: "John are you whacking off under there?"
John: "Nah bro, I'm just punching the blanket."
John: "Nah bro, I'm just punching the blanket."