A rusty midget is when you engage in sexual intercourse with a female who is on her period, in which afterwards when you lose your boner, and have not cleaned the newly dried blood and which therefore leaves a rusty looking residue on your soft little midget!
Man i fucked this bitch last night and i woke up with a RUSTY MIDGET!!!!
The large mass of fat that develops in the taint of heavily overweight people that, when at full growth potential, can be impressively larger, or sometimes mistaken for ones member. Especially while wearing a spandex one piece dancing to Beyonce.
Did you see that guys dangling mass flopping around while he danced to Beyonce?