Seems like the phrase in itself is quite self explanatory, but for those who miss the purpose; 'whatever floats your scrote' is a way of expressing nonchalance or easy-going-ness toward as subject or matter. If someone asks you to make a decision, this phrase can be used to suggest that they choose instead, and that you are happy to go with either option.
"Hey Sean, you want the raspberry or the lemon flavour?"
"Whatever floats your scrote, man."
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