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2.
Crisco Parties are gatherings held on Friday afternoons, traditionally a half an hour before the end of the work day, in honor of the completion of a research project.
I got drunk at the Crisco Party.

And we going to have a Crisco Party for EMEA?

Who's going to go to Safeway and get the booze for the Crisco Party?
by NotJanelle April 26, 2013
 
1.
AN ORGY IN WHICH ALL THE PARTICIPATES ARE COVERED IN CRISCO OR SOME KIND OF SIMILAR COOKING OIL.
LILL AND JILL HAD A CRISCO PARTY IN THEIR APARTMENT.
by PSUDOFEDREN November 20, 2009