A play on words that branched off of the common slang of "Netflix and chill" which refers to watching Netflix and having sex with your partner. This piece of slang follows the same definition of "Netflix and chill" but is not at all used the same. You would not tell your mother this as a description of your night with your girlfriend.
Girlfriend: You want to hang out tonight at my place? My parents aren't home...
Boyfriend: Yeah and while I'm there how about you Disney Plus This Dick!
Girlfriend: Eh wtf... Why do you have to say it like that, I'll see you tonight.
Used in a joking manner from boyfriend to girlfriend when referring to sex. Comes from the term "Netflix and Chill."
Girlfriend: You want to come over tonight? My parents aren't home...
Boyfriend: Yeah and while we at it you can Disney Plus This Dick!