An orgy consisting solely of virgins. No virginity need be lost for the event to be considered a virgy. While this was originally done by cool kids, this is mostly done by emo losers that don't want to have sex because they are waiting for someone who will make them cry to lose their virginity.
Bill: Um, are you coming to the virgy tonight?
Tonya: Isn't that girl Sarah gonna be there? She was there last time!
Bill: Oh, its okay, she didn't lose her virginity last time, so she can still come!