Alcohol which has been acquired for free, usually by devious and underhanded methods.
Shouldn't need much money tonight, I'm planning on just drinking malcohol.
by arjs9 April 06, 2009
A term used to describe alcohol that has been stolen usually by people of Jewish origin and/or have a name starting with Malcolm.
Where did he get all that malcohol from?
by jdogg999 April 05, 2009