The action of taking a mans Man Card when an act of unmanliness has been committed. This is only temporary, as a man card can never be taken away, only temporarily revoked. Once a manly act has been completed (ex: Chug several beer, remove sink with bear hands, build something with a power tool, etc) the Man Card can and will be reinstated.
See Urban Dictionary's definition for Official Man Card.
You all went and saw the Twilight movies? Gentlemen, I'm about to Revoke a Man Card.