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1.
A panda that is no longer alive. (i.e. dead)

See also Dead Panda Society.
That dead panda looks pretty dead to me.
by Dead Panda December 19, 2005
 
2.
A dub electro band from Long Beach California. Dead Panda got their name from a BauHaus album cover. The cover of the Mask album portrays a bear with it's eyes shut.

Dead Panda released their first album "Million Dollar Gun"
in 2005 (Copyright Dead Panda 2005).

Dead Panda was also a term used by drug smugglers in the
American southwest, usually to describe a particularly heavy package.
"Dead Panda is playing at Club Spaceland tonight!"

"I'll be back in Tucson with that dead panda by midnight."
by Saint Brendan December 08, 2006