Magic Misting is the act of shaking out unused precum on your sexual partners face. The term can also be used in reference to cum in general, and sometimes maybe even piss. It has to be the face, though, always the face, and it has to be some sort of penal fluid in general. Females need not apply.
"Dude, did you see how I magic misted that bitch!"
"He magic misted me... It was magical."