When you vigorously scratch your nuts and then stick your finger in someone's ear
Friend: Why you sticking your finger in my ear bro?
Me: I just scratched my nuts. It's a Nut Willy!
Friend: That's naaaaaasty. Fuck off.
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The act of ejaculating on your finger and sticking it in someone's ear.
"Yo, I just gave Sam a Nut Willy!"
"Gross! Did you just give me a Nut Willy!?!?"