It is a phrase used by people usually in high school, it is another way for saying "what a joke" or "you're yanking my chain"
Example 1:
Susan: "Me and Jayden had sex and I think I'm pregnant"
Yasmin: "What a yank susie you fucking slut"
Example 2:
Teacher: "We have a surprise test this period"
Students: "WHAT A FUCKING YANK"
a wicked yank is when you ain't jerked off in a while and your roommates are gone so you light a candle and take a trip to wonderland, just you and your shmeat having a little yank together
"yank" is an abbreviation of "yankin tha shi," a euphemism for jerking off
"wicked" refers both to the sinful nature of the activity, and the fiendish gusto with which it is carried out
"hey man how was your weekend"
"pretty good! i had a WICKED yank on saturday and then i hit the gym"
"haha cool"
When your wife is so fed up with you that she hands you a naked dude magazine infront of all your friends.
Karen was so fed up with Ryan's drinking that she dick yanked him to the amusement and eternal shame infront of all his neighbours.
When you're in the act of giving a hand-job whilst whistling "Yankee Doodle Dandy". The object is to make the guy cum during the course of the song or have to repeat until he does. Same scenario can happen also while a guy is masturbating.
I was giving my boyfriend a handy J and started whistling Yankee Doodle Dandy, cuz it was 4th of July and when I got to the up-tempo part he was screaming Yank My Noodle Dandy.
Person 1:"Say fam you ain't catching no play today?"
Person 2:"Naww Ima have to yank the skin tonight"
*boy bsf sends a video saying he is yanking his chain*
Was he really yanking his chain