A term used to describe the female genitalia. Some scholars believe the term came into use to describe a big lipped, full, meaty vagina. While others believe it is the vagina's ability to store a mans beef that give the name meaning.
Guy #1 - "Hey, you see that girl in the yoga pants?"
Guy #2 - "Yea."
Guy #1 - "You can totally see her Beef Wallet!"