The coating of the eyes of a consenting partner with semen from the ejaculating penises of two men. Normally the left eye is coated by the individual to the left of the lucky recipient and the right-eye is coated by the right most participant. High fives are common in the process.
Name derived from the glow given off by coated eyes under a black light.
"Dude, last night Brent and I totally gave this one girl a nice set of Panther Eyes. It was a bitching party."