An expression (often used in unison with explicit hand motions) that expresses distase or dislike for something someone has just said/done.
You're basically just telling them to shove their thumb up your anus.
Similar to suck me.
Jason: "Garrett you're a fag."
Garrett: "Aw thumb me dillhole." *Makes a circle with one of his hands as he speaks, similar to balling it into a fist, and then violently shoves the other thumb into said hole*