When your armpits have the very distinct odor associated with weed
Friend 1: "Dude, what smells like weed?"
Friend 2: "I don't know let me check the pits"
Friend 2: "Oh man, have I got some dank pits or what?"
It means to take the hint/ go for it
It is also a rad sex move involving hammocks, duct tape and whip cream
Dude you should really just throw her the frisbee
Just give her a wink and toss her the frisbee