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1.
A special strain of Marijuana, mostly found during the Vietnam era.
"Can I get some of that Panama Red?"
"Panama Red is expensive..man"
by Jay2Win March 25, 2005
 
2.
calling someone's story suspect or a lie. a person who is telling a story that they think is cool, but actually did not do.
friend 1: last night was crazy partying in VIP with Pamela Anderson.

friend 2: I bet you did panama red.
by Panama Reggi May 27, 2009
 
3.
1. High on pot
2. Title track of the 1973 New Riders of the Purple Sage album of the same name
Panama Red, Panama Red
He'll steal your woman, then he'll rob your head
Panama Red, Panama Red
On his white horse, Mescalito
He come breezin' through town
I'll bet your woman's up in bed with
Panama Red
by DKO CW March 26, 2005
 
4.
Means when someone is so high on weed, marijuana etc. Stoned out their mind
Benny Ben: Hey you need to spike those Focker, you think u can get up there to spike the ball?
MenaceMan: Yeah i can, i would have to be pretty HIGH!!!!!
Benny Ben: I bet you would Panama Red!!!
by Ben Asse September 11, 2004
 
5.
someone who's stoned.
rather than "here comes the stoner"
you would say "here comes panama red"
by cally November 20, 2003