Is there something horrible wrong with me, that when I read this thread the first thing that comes to mind is tentacle "intercourse"?
Well. They are viewed similarly to breasts in Twi'lek culture...
Where you go with that is entirely your business!
But, they're somewhat moveable without being exactly prehensile like, say, a monkey's tail. They have some motion, but I'm not sure they can actually grip anything with any real ability.