The manmade body of water that provides access to the Pacific Ocean from the Atlantic Ocean to the Carribean Sea without necessitating a trip around Africa or through the near-impenetrable Arctic Ocean.
I don't think that there are (m)any piranhas in the Panama Canal.
by Diggity Monkeez April 02, 2005
A sexual act in which you bridge the gap of a womans vagina and her anus by ejaculating inbetween the two, creating almost what can be considered a canal between the two areas.
I was butt fuckin this girl right, and I pulled out and gave her a panama canal.
by Division 6 September 14, 2006