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this resulted from a mispronouncation of finger handle bars, which is like a finerstache, only you get hand bars, instead of a moustache. After much debate, the group of new words (websters) decided it was a piercing that people got that involved piercing large rings through both testicles so your girlfriend/boyfriend/etc. could handle you by them.
Bob: Dude, did you hear Josh got him some Finger Handlebars?
Joe: GROSS! Wat is he, gay? those are for gays
Bob: HEY MAN! -drops pants- i have them too!
Joe: -pulls bob by his finger handleballs- you fucking faggot.
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These can be created when one has an extremely large scrotum(a large ballsack with lots of loose skin) by placing both hands with their index fingers and thumbs touching in the middle their scrotum making sure each testicle is on either side of the pinky fingers when they close their hands to make a fist to simulate riding a bike and holding onto each handle bar. Thus giving the illusion and appearance of riding one’s bike. For the full affect some place tassels, boobie or non boobie, onto each testicle to fully capture one’s childhood memories.
Jim was so poor while growing up that he couldn’t afford a bike so all through high school he would stand in front of his fan and make finger handleballs and imagine speeding down a steep hill with his new bike.