Bonerific can be used to describe a whole manner of things, in different ways.
You could say a hot girl/guy/dog that walked past was 'bonerific' or the film you just saw had a lot of tits in it, thus being bonerific.
Or it could be negative, for example, you just lost your bank card, fucking bonerific right?
Oh and you just got a boner? Hey that's bonerific!