man hanging
Offhand, I can't think of a use for 'hang' in this context, except in the slangy greeting from one man to another, "How are they hanging?". However, in the past or participial form, you have 'Hung like a bull/horse' or similar expressions.

Incidentally, ladies, please inform us men: Would you consider the state of being hung like a horse to be the male equivalent of a woman having bodacious tatas?