A bulge in a person's swimwear caused by either an erection or extreme tightness.
"That dude has a Speedo Torpedo so big it could sink a battleship."
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Speedo torpedo: sporting an penile erection when wearing an overly tight bathing suit, such as a Speedo.
Stepanie said to Michelle, "Check out that self-deluded tool, he thinks he looks hot sporting a Speedo torpedo. He makes me want to spew."
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