Green’s Dictionary of Slang

dead horse n.4

[rhy. sl. but note ride n. (1a)]

(Aus.) sexual intercourse.

[Aus]J. Byrell (con. 1959) Up the Cross 29: Sophia Loren lying back there all set for a game of dead-horse.

In phrases

dead horse charlie (n.) [lit. ‘intercourse woman’; charlie wheeler n. (1)]

(Aus.) a street prostitute.

[Aus]J. Byrell (con. 1959) Up the Cross 9: ‘He sprung a few bikie mugs dishin’ out of heap of tom to one of the dead horse charlies’.
play legs up like a dead horse (v.)

(Aus.) of a woman, to have sexual intercourse (with her legs in the air) .

[Aus]J. Byrell (con. 1959) Up the Cross 41: His cheese had chosen one of the regulars to play legs up like a dead horse with.