When you fist your partner in the ass, hold them up on your arm like a puppet, and raise and lower them in a motion similar to that of a carousel.
Amy did you hear that Jeff gave Beth a California Carousel the other night?
When you are so high or drunk that you forget if the current time is the afternoon or at night. So you combine both words into a nonsensical portmanteau.
Hey Jeff Iâll see you this todaynight.