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Douglas Harper's Etymology Dictionary
well-hung

1610s, in male genital sense, from well (adv.) + hung (adj.).

Wiktionary
well-hung

a. 1 (context informal vulgar English) Having a large penis. 2 (context of game meat English) Allowed to mature correctly.

Usage examples of "well-hung".

If the whitewash was all but gone from the stout wooden walls after the winter storms, the house was still in a tidy state of repair, the thatch tightly mended and the doors and shutters well-hung and snug fitting.

There's our well-hung Dominican and his young acolyte, Brother Christophe - a real treat, you see.