To shoot ones skeet skeet on a girls bum hole as the grand finale of a sexual adventure
Dan: Hey, did you have sex with that girl last night?
Wayne: Ya, and I finished by cream cheesing her bagel
Dan: OH Wayne, you the nastiest!
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When a guy asks a girl to cream cheese my bagel he is asking her to put a bagel with cream cheese on his dick and jerk it off while she eats the bagel.
Leah can you cream cheese my bagel?
The action of performing analingus shortly after ejaculating in one's gaping butthole
Fred: "I could really go for a Cream Cheese Bagel right now"
Roger: "I can't help you, Fred"