An incredibly insane fun outing or event usually involving 3 or more people! Any less than three people would be considered a palagaloozie (or a platonic date).
This word is native to Davis, CA.
"Hey Dave, let's go on a spontaneous palagaloozie
"I'm sorry pal, I'm already going on a crazy palagalooza
with Erin, Tif, and Crystal!"
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