Genitalia, and the various other (sometimes considered decorative) bits on the human form.
Wife: Show me the ol' knick knacks.
Husband: BRB, imma dust off.
An unattractive person used for one time only non-comittal sexual relationships...
Steve pulled his friend Larry aside at the bar, pointing excitedly for Larry to look. "Hey brah see that real dog on the other side of the bar with that pimply face and that junky butt? Why don't you be a gentleman and knick knack paddy whack give a dog a bone?"
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A United States 5 dollar ($) Federal Reserve Note. This tender piece of paper exposes the abnormally large head and ear of Abraham Lincoln our 16th president of the U.S. 1861-65.
Play me in darts and lets gamble a nick knack on it.
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A person with the ability to hit another with their scrotum without the other's notice. Usually done by people who have had little to no sexual intercourse in at least four years.
Man did you see that? When the woman wasn't looking, Roberto opened his pants and gently struck her leg with his testicles. What a Knack Sacker.
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A piece of jewelry. A trinket or bauble.
Look at the knick knack that girl is wearing around her neck.
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Hey, I'm gunna have a knick knack before the movie, want one?
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Herro buy my rick racks prease. A knick knack shack is a vendor cart owned by a person of asian decent. The person of asian decent is usually considered the "stereotypical" asian. They try and sell knick knack at all costs even if it means sabotaging the knick knack shack across the street.
"Do you want a fake Lakers hat that says Lackers on in? I saw a knick knack shack down the street go buy one there."