A bouncing wedgie is when someone eather lifts in the air then begins to bounce you so every bounce feels like you just fell into a hanging wedgie or when someone grabs your underwear and repeatedly jumps repeatedly ramming the underwear up the crack.
Yesterday I was at my friend's house when he came up behind me and grabbed my tighty whiteys then lifted me off the ground proceeding to bounce me causing my underwear to repeatedly ram my underwear up my crack! He didn't stop until they ripped. That was a horrible bouncing wedgie.
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