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Wiktionary
third base

n. 1 (context baseball English) The base after second base in a counter-clockwise path around a baseball infield. 2 (cx blackjack English) The betting spot located immediately to the right of the dealer, which is last to act. 3 (context colloquial English) Touching a man's or woman's genitals in a sexual manner; mutual masturbation.

WordNet
third base
  1. n. the base that must be touched third by a base runner in baseball; "he was cut down on a close play at third" [syn: third]

  2. the fielding position of the player on a baseball team who is stationed near 3rd base; "he is playing third" [syn: third]

Wikipedia
Third base (disambiguation)

Third base can mean:

  • Third baseman in baseball
  • Sexual slang for intimate contact that stops short of sexual intercourse (see Baseball metaphors for sex)
  • Third Base, a 1978 Japanese-language film directed by Yoichi Higashi
Third Base

is a 1978 Japanese sports film directed by Yƍichi Higashi.

Usage examples of "third base".

He ran from third base to fourth base, and now he is walking away, dirty but unbowed.

When the dust began to clear, Johnny was sitting on third base staring at the ball in his glove.

She was past the [[third-base]] bag-on the [[third-base]] line, but still nearer third base than home plate-when Owen Meany started his swing.