A holiday traditionally held on the Sunday after Thanksgiving (when turkeys can be bought for like $2 each), Danksgiving is a celebration and time to give thanks for man's ability to fuck himself up.
To this end, many traditional Danksgiving meals are prepared, often some spin-off of Thanksgiving foods but typically with marijuana and/or alcohol being incorporated into the ingredients. Pot brownies, potatoes with cannabutter, cranberry jello shots, vodkamelons, and of course the Danksgiving Turkey are cooked in a communal setting, and then consumed all at once during the traditional Danksgiving Feast.
Heavy drinking and smoking are also encouraged throughout the entire day of Danksgiving, especially in the form of group games that emphasize getting fucked up as much as possible.
"I'm pretty sure last year's Danksgiving celebration was the best Danksgiving ever, but I don't remember any of it."
"That's what Danksgiving's all about."