(1)a 70's rock band fronted by lou reed. often referred to as the 'godfathers of punk' although most people disagree. excellent musicians who music is still cherished and rocked out to this very day.
(2) a club on queen street west toronto
(1) sweet jane is one of my favourite velvet underground songs
(2) my brothers band is playing at the velvet underground on friday
by Jane_Bond October 28, 2003
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The Most kickass band ever, influenced thousands of musicians and just were awesome.
"The first Velvet Underground album only sold 10,000 copies, but everyone who bought it formed a band."-Peter Buck
by Rockerz101 January 3, 2012
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1) Great band.

2) Contrary to popular belief (as helped by Brian from Family Guy), the term "velvet underground" does not necessarily mean "vagina." In fact, it may come to a shock to most people that it is slang for the subculture of sadomasochism. That's right, the whole time you've been listening to the band you've actually been subconsciously supporting an underground S&M club.
Lou: Dude, are you into Velvet Underground?
Reed: Dude, since when have you been a sadomasochist? *Pushes Lou away, not wanting to get involved with whips and chains*
by aardvarksaysgo December 14, 2010
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a slang term for vagina, popular in the 70's among metrosexual clubbers
'Can I wham my oingo boingo into your velvet underground?'
by b^a&t*e@m!a%n May 7, 2009
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A vagina. In the family guy episode, where peter goes back in time with the help of death, and ruins his relationship with lois, brian asks lois if he can "ram his oingo boingo, into her velvet underground" referring to her vagina. Also, a kickass band.
Brian: lois, can I ram my oingo boingo, into your velvet underground?
Lois: I love velvet underground.
by curfry January 11, 2010
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