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1.
1.the source of power (n.)
2. "put on the Daddy Pants" (tr.v.) to assume authority and whip some ass

from the days when it struck mortal fear to hear "You just wait until your Dad gets home!"
As in "Dude, you need to put on the Daddy Pants and not let them get away with that shit"
or
"This guy at work put on the Daddy Pants and told the marketing guys where to go."
by robert February 25, 2005
 
2.
A pair of ill fitting pants in which the crotch sags well below the knee
"those daddy pants, make you look well hung"
by fagbot December 11, 2004