Definition #2: bravery
Definition #3: authority
Definition #2: We all went to Skatopia to skate the biggest ramp, but Jake was the only one with the balls to do it.
Defintion #3: Dude, what kind of balls do you have to flip me off, huh?!?
Some people, such as myself, find it more humorous to use the word "balls" in place of harsher words.
A few examples:
1) Getting killed in Counter-Strike.
2) Upon discovering your expulsion from college.
3) Upon discovering that you have testicular cancer.
(okay maybe #3 could've been left out.)
2) Oh, Balls!
3) OH MY BALLS!!