1: A desperate attempt to smoke marijuana at your number 1 best friends house by leaning out of the second story window and smoking a bowl from a small pipe. Normally this doesn't work because it just so happens your friends mom is awake in the room across from his and she catches you too in the act of "releasing the bird."
2: Holding a bird in your hands and letting it go by releasing it out of a window.
Guy 1: "Hey man, when are we gunna release the bird, if you know what I me?"
Guy 2: "Man, I don't even know. How about on Sunday?"
Guy 1: "Hey man, are you going to release the bird you found the other day?"
Guy 2: "Man, I don't even know. Maybe Sunday.