look up any word, like wyd:
 
3.
An object that that when refered to, is in fact, a palace.
That is a palace.
by hiryuu February 16, 2004
 
1.
In a public washroom when you are taking a shit and you begin a conversation with the person in the stall next to you.
Slightly Gay Friend: Wanna palace?

You: Hell ya

Slightly Gay Friend: So what's your favorite movie? (whilst palacing)
by Matt Evening April 24, 2009
 
2.
great, awesome, see also wizard
man, that's so palace!
by bonker January 08, 2004