A Hobo Spike is the sexual act in which a male jabs his love stick into the eye of a partner.
Bradon: Hey you know that hot chick I saw last night!?
Ryan: Yeah.
Bradon: I fuckin' Hobo Spiked her last night!
Ryan: Awesome!
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An approximately 2' long piece of metal/spike, which hobos use to pry open a freight-train boxcar so that they can "hop a train" (i.e. illegally ride a freight-train to the hobo's destination).
Sammy's hobo spike not only opens boxcar doors, it also opens cans of beans and cans of beer!