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1.
A clever play on "Cinco de Mayo," yet another foreign "holiday" that white folks (particularly teens and those in their early 20s) use as an excuse to drink copious amounts of alcohol (in this case Cuervo and Corona)during daylight hours.
Spencer: Say, what are we doing for Cinco de Mayo?

Ashton: You mean Cinco de Drinko!! We're gonna get gooned on tequila, broseph!!
by Jaws13 May 03, 2009
 
2.
The celebration period of Cinco de Mayo. Drinking on or around or for the holiday.
Hey, I wanna get my Cinco de Drinko on -- are you in??
by JennJennSiren October 24, 2010
 
3.
a party incorporating Mexican themes, such as margaritas and guacamole, regardless of party-goers nationalities. best if not taken too seriously and barely resembling a traditional celebration of Mexico's Cinco de Mayo.
best served on or around the date of Cinco de Mayo.
are you going to Monica's Cinco de Mayo party tonight?" "but today is May 7th, isn't the party a bit late?" "well, this party is more like..Cinco de Drinko
by appendixxx May 09, 2011