A Hyphy Can is a red "party Cup" used worldwide to consume alcoholic beverages (ie. play beer pong)and get hyphy!
the term "hyphy can" comes from mac dre's hyphy movement, when people drink hyphy juice they get drunk or "hyphy" and a party cup is always the container of hyphy juice.
"yo fill up my hyphy can i'm tryna get F***d up!!"
"Wheres my hyphy can at? im finna get this party started!"