Basically a way of saying someone is in the act of masturbation or jerking off. It is meant to symbolize the imagery of pants strapped around the ankles like a handcuff straps around two hands.
It is sometimes written as "P.H.A!"
Jovan Jordan: anytime I see Rosa Johnson's or Alicia Campagna's phat ass and small tits on social media, it always leads to a pants handcuffing ankles type of situation
Dredd: yeah I feel the same way about Kelsi Monroe, Jada Stevens, Olivia Rose Livi Whitman and Liz Jordan. Thick pawgs always make you want to beat your meat