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1.
When you put your vehicle in neutral gear, rev the RPM's up real high then throw it into drive. Thus making your tires spin. This is normally done on vehicles with automatic transmissions that dont have the power to burnout by fully depressing the gas pedal. Unfortunatly neutral dropping can ruin your transmission or driveshaft.
I did a neutral drop on a geo metro and managed to lay down two feet of rubber! :D
by Lee21 May 04, 2007
 
2.
Puting your vehicle in neutral, raising the rpms to the red, then droping it into drive, and keeping the rpms in the red, thus causing a burn out.
I did a neutral drop on my neighbors driveway to piss them off for always playing there music really loud.
by A way to piss off your neighbor November 15, 2006