(transitive, intransitive) To sexually stimulate by manipulating the foreskin.
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According to Scotty, who should have played the accordion, and did he, Dr. Bowles now wonders, grow up to be Scotty Boy Potty and was all this merely a terribly tropish bit of biz foreskinning the man he would becum, nuntheless, according to Scott, if one waved bye-bye up and down, i.e. flapping, versus side to side, i.e. wiping, one was a fag.
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2008, Vanessa Place, La Medusa, →ISBN, page 356:
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S'ter Penny started to go but stopped when she noticed Ivy was still standing with us. "Heh! Ivy Abankwah, jai foreskinning!" She told her to stop doing something -- I wasn't sure what "foreskinning" meant.