2. (DOD FX13 Gonkulator Modulator) An effect pedal for electric guitar.
A big fan of the band introduced Gonkulator to several of his friends here in Davis, CA, and thus a strong following for Gonkulator was developed here.
None of us knew what Gonkulator actually meant before it became the name of the guitar effects pedal, so someone took the liberty to make the word mean whatever he wanted it to mean, and thus it became another synonym for vagina. I like it better than "pussy" myself.
From there, the verb "gonkulate" was spawned, and that is "to produce a secretion from the vagina or female ejaculate."