Wackin' the Dilly
Used to describe when one is sitting around doing nothing. Usually in reference to masturbating. Stroking the cock, massaging the giggle stick, getting your groove on with your hand, flicking the wrist, masturbating.
Wackin' the Dilly: Dude, are you going to do anything today or are you going to sit around Wackin'the Dilly?