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1.
Irish slang term for a penis. Originates from the company of the same name, a pipe manufacturer.
G'wan, give her wavin boy!
von tfcdub123 12. Juni 2006
 
2.
Black plastic pipe cut into a metre length. Used for the whipping of cattle and naughty children.
Howld on there 'til i bate ya wit me lent a wavin!!
von hardytom 16. Januar 2009
 
3.
A west coast term of justification or fairness, meaning "it's all good", popularized by Martin Lawrence in the movie "Black Knight" but often misheard.
Gary: Let me give you some cash for the Beast Lite you picked up.

Big M: Nah, wavin yo.
von JPLehigh 9. Juni 2005