threesome-ish??

I'm in a three year relationship with my boyfriend. For some months he had teased me about a friend and I, saying that we probably experimented together. I would always laugh at it, and my friend and I even began to tease him about it too. 
About a month ago he confessed to me that he had actually jerked off to the thought of her and me doing stuff (its basically one of his fantasies). We have been talking with my friend about having a threesome (at first joking, but then it kind if became more serious). Now the weird thing is that it wouldn't exactly be a threesome, more like them sharing me (because they don't want to do something between themselves but with me).
We're already talking about it and setting our boundaries. Now I know some may say that I will ruin my friendship with her, but she has already seen my bf and I do stuff and it was fine.
My question is if there is some type of term to describe this because it's definitely not a threesome. And if someone has done something like this, if you could tell me how it turned out?? Thankss!