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1.
When A Person calls a friend and tells them to call their friends. And the first caller calls more people. Then Those friends call More friends etc. Very Often, People talk about random things in phone parties. Sometimes People Get Phone Shy Becuase They Do Not Know Who They Are talking to! Most Phone Parties Happen at Night.
Person A: HEY! Wanna do a phone party?
Person B: Sure! Who do we call?
Person A: We can call My friends!
(Person A calls a friend)
Person C: HEYY! whats up?
Person A: Call someone!
(Person B Gets phone shy from not knowing who Person C really is.)
by ThatOtherPerson January 03, 2009
 
2.
When a group of people get together to hang out, but end up on their smart phones instead of engaging in conversation.
"Alex, Kayla, and Alycia are totally having a phone party over there"
by Witness_23lbj August 14, 2012