Here's an actual Couples Snuggie in action.

And here's the Couples Snuggie at rest. It is as large as a couch and resembles a fleece elephant with that third armhole in the middle.

Snuggie for Two

Update: 2/11/2010 - It appears HSN has sold out of the Double Snuggie. It looks like you can get them at the Amazon Snuggie Store.