Being both pepsi and tipsy at the same time, thus, being drunk... Probably the reason the word is used this way...
Wow! I feel quite pepsi today! Tubing while benderizing eh Elspeth....Shin-dig?? EH?!?!?!
by Hail December 19, 2003
Pepsi Brings back your dead ancestors!!!
SO remember to drink your pepsi!!!!!!
by me August 21, 2004
When you ask someone for a blowjob.
Man, that was one grrrreat Pepsi.
by Max Kansas April 10, 2005