A sexual/alcohol-related act akin to the infamous buttchug. When performing a Mexican Dipstick, one party will soak their finger in tequila, and gently insert it into the anus of the other party.
Note: the salt on the rim is optional, but recommended.
I was hoping to party but all I had was tequila. Hating the taste, I asked my lover to perform a Mexican Dipstick, hold the salt.