A group of people smoking weed, and holding the smoke in the lungs until the next person hands off the bong or pipe to another, and (s)he does the same.
Usually a group of 3 to 4 people, can be a larger group for at a party, or a smaller group for just friends smokin a bit of ganja.
Popular in Southern Ontario, Canada, originating in Markdale Ontario.
Richard: Amy, just take the hoot and hold it till i say let it go.
Richard: Its a bowl party, dumbass.