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1.
When a group gets together and realize it consists of mostly men. This is used as an insult towards parties in which all heterosexual men were intending to get laid, and as a compliment towards someone's party in the gay community. Synonymous with "sausage party".
"My friends threw a party for Halloween, but it was a total hot dog party so I left at 11."

"Since my boyfriend broke up with me last month, and I'm ready to move on. Better find a good hot dog party tonight!"

"Ladies, let's go find a hot dog party and get hit on all night!"

"We better leave before this hot dog party turns into a lemon party."
by Lotus_Position December 22, 2011
 
2.
noun.
1.) A party that is mainly comprised of dudes.
2.) Any gay party.
3.) Used to describe any group of men which is lacking woman.
4.) Whenever there are too many dicks on the dancefloor.
1.) "Your wife is out of town this weekend? We should have a Hotdog Party!"
by KAGE1414 April 14, 2011
 
3.
Like a sausage fest, what you get when you initially expect an event to have a reasonable number of women, but to your horror discover consists mostly (or entirely) of guys. This is a terminal condition because unless a large group of girls shows up (or one happens to be an attention whore, see: youniverse), no single woman will risk being the first bun to walk in the room.
Man, the party sucked; the girls left right after we got there and then it was just a hotdog party. When everyone started looking around we issued a nonpology and left--we were not at all interested in witnessing a circle jerk.
by Haywood Jablowmi June 10, 2007
 
4.
Jerk off, simply... Jerk off, simply...Jerk off, simply...Jerk off, simply...Jerk off, simply...Jerk off, simply...
Wanna join our hotdogparty...? Or you could do it buy yourself, of course.
by hnoweghgbj December 29, 2007