1. A friend of the schlong, but nothing serious
2. A sock or other concealing material meant to gently warm the penis in cold weather
3. Cohabitants, such as testicles, hair, lint, mites, etc.
1. I'm a bit shy, so my schlongbuddy Mike helps me by hooking me up with his leftovers.
2. My schlongbuddy comes in handy as a buffer during freeballing which prevents painful zipper error.
3. You call them crabs, I call them schlongbuddies.