this resulted from a mispronouncation of finger handle bars, which is like a finerstache, only you get hand bars, instead of a moustache. After much debate, the group of new words (websters) decided it was a piercing that people got that involved piercing large rings through both testicles so your girlfriend/boyfriend/etc. could handle you by them.
Bob: Dude, did you hear Josh got him some Finger Handlebars?
Joe: GROSS! Wat is he, gay? those are for gays
Bob: HEY MAN! -drops pants- i have them too!
Joe: -pulls bob by his finger handleballs- you fucking faggot.
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