Not allot to say bar the obvious , a couple of meanings for Spunk depending on which land you cum from. UK meaning is what comes out of your dick when having sex, the white stuff! Or to put into another context: “That Guy has some Spunk” translated as a guy who has some balls or nerve to do X Y or Z. So we are not talking semen here neither “Bottle”. Not a bad word nor vulgar. Could be full of spunk! In Australia its seen as a term for a sexually attractive person.So rule of thumb is dependent on where you are who and whom your with.

Liquid Spunk

Seen on E bay a great lube. Here is an aroma for sale cheap cheerful and a bit tongue in cheek. Not going to be the best seller  but an ice breaker and party novelty.