Yankie Blankie refers to the dexterous process of masturbation done under any type of fabric layer (such as a blanket) in which it is preformed by either yourself or someone else.
I was flying home from a boating trip at sea when the person I was holding hands with slowly put my hand on his junk that was stealthily hidden underneath a blanket where I then proceeded to give him a yankie blankie
When you remove your penis after anal sex and a little poo drips out onto your moms blanket.
Curtis! Get in here! Did you pull a stanky blanky with your little girlfriend while we was out at the Walmart?
When you jerk off and nothing comes out.
"I'm throwing blanky jankies" - Three 6 Mafia song "Lolli Lolli"
When your at post drinks, and you jerk it off under the group blanket.
Ahh will! You having a Wanky blanky?
When the man removes the cooked minced meat from a hot sausage roll replacing it with his penis and covers it with ketchup before getting oral sex by his partner.
After dinner the mans gf/wife asked for seconds so he offered her a hot “sausage blanky”
Blankie is a deep and meaning full blanket that has a special place in your heart.
“Mom I don’t know where blankie is can you help me find her/him/it??”