It depends on the mood I suppose as far as I'm concerned. As far as fantasies go it's usually a re-creation of an experience that I've had that left me going mmmmmmm (ie. picnic tables after football games or balconies with trucks going by)

But...things that have done it for me range from watching some good lesbian porn, making love with/watching another couple (no trading just the watching part!), and the whole exhibitionist idea....having another guy watch while I ride my sweetie.
Sexymama, I think you are correct in the thought that we, as women, put a more intimate perspective to it...we would rather put our sweetie into the picture than getting off to an unknown factor. At least I do!
