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1.
Has two different acronymic expansions, but both are essentially the same (or what would happen there is).

1. Bitch on Bitch party. A females only party, where action of the lesbian kind is undertaken, often with a variety of toys and miscellaneous objects.

2. Battery-Operated Boyfriend party. As the name suggests, a females only party, where certain battery-operated devices, among other objects are used by the attending females.
1: Hey, did you hear that Nina and Jill are having a BOB party on saturday night?
2: Oh god! That'd be fun to go see.
by spartaneseninja July 21, 2011