Verb meaning to explosively and publicly shit ones pants. Defined by loud and extremely sudden defecation (less then 10 minutes between onset of sympotoms and actual filling of the pants). It is likened to "ejaculation" only by the squirting action caused by bowel spasms and very liquid excrement.
Can also, less commonly, refer to violent dihorreah while on the toilet, but to be considered actual pejubulation it must have several witnesses (at least three), who hear loud accompanying moans or other associated sounds.
Oh, man, I think I'm about to pejubulate in my pants... must have been the indian