Wiktionary
spank the monkey
vb. (context idiomatic colloquial vulgar English) To masturbate (male).
Wikipedia
Spank the monkey
For the similarly-named 1994 film, see Spanking the Monkey.
Spank the Monkey is a card game created by Peter Hansson, where you and your co-players are workers at a junk yard. A monkey has climbed the highest scrap pile, and it is your job to climb up and bring it down by spanking it.