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1.
A large group of huge black guys, uninvited to your party, who rush for the keg, hog it, and finish it off in record time.

Since the keg is gone, a beer run is in order. The Keg Monkeys do NOT contribute to the beer run funds. Once the beer is gone, they will bounce. If they chose to hang around, fights will break out. BE WEARY OF THE KEG MONKEYS!
Michael: "WOW, who the FUCK invited those keg monkeys!?"
Favio: "Not sure, but they are finishing off the keg!"
by angryhousepartyhost November 09, 2009
 
2.
To stand around a keg at a party, get your cup filled, then drink it real fast, fill it up again. Usually is done until the keg is finished.
I was at this party last night that was so busy I decided to be a keg monkey.

We keg monkey'd that thing till it was gone!
by MikeyG69 November 28, 2007