Similar to the children's game Hot Potato, where a group of people try to get rid of the "potato" as fast as possible without getting caught with it. However, in this version, a knife (preferably a switchblade) is tossed about and people try to catch it without cutting their hands or any other part of the body. The last person who doesn't get cut wins.
A few of us played Mexican Hot Potato last night. Everybody else cut their hands and I won!