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1.
To do something so inherently stupid, yet your friends choose not to alienate you from the group and resort to summing up the scenario with this comment.
"He bought the truck, then two days later ran it into a light pole and totalled it when he was drunk."

"Fuckin' Grimace!"
by Bob Sackimano December 08, 2004
 
2.
To get caught doing something so stupid, that no other response can be given.
BEAN: "Some chic bet Grimace 5 cents that he couldn't drink a quart of motor oil, and he drank the whole goddamn thing and puked it up!"

MILTON: Fuckin Grimace.
by bEaNChoPpA September 18, 2003