When you lubricate one's anus and quickly insert or "dunk" your testicles into his/her rectum.
Ex.
"Oh, I'm gonna be Dunkarooing you so much tonight."
When you shit into a pocket pussy and masturbate with it
Josh Peters lubricated his PP with a good old Dallas Dunkaroo
An expression popular in the Waterloo area as an alternative to "dip like cheese wiz". Used when leaving a place or event.
1) "there's nobody in the lounge, let's dip like Dunkaroos"
2)
Student1:"Are you dipping like cheese wiz?"
Student2:"Nah I'm dipping like Dunkaroos"