When a young group of teenagers goes to a party and each girl wears a different colored lipstick. Then all the boys line up and each girl proceeds to "go down" on the boys. The girl with her lipstick farthest down on the most boys is deemed "winner"
"'Mom! My throat is too sore from last night's rainbow party!' 'It's ok, sweety, you can stay home from school today'"
A phrase used like "good bye..." meant to be used for close friends. Drug-ies use to say goodbye to deals
i.e. "Alright, man, peace."
OR "So you'll pick it (as in drug) up in two hours?! Good. Peace."