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1.
The person who comes in second. The first person to lose to the winner. The person who is made fun of just less than the person who comes in last.
"Dont worry Timmy, we'll still love you even if your the runner up"
Girl one: "Oooh, who's that guy, he's such a hottie" Girl two: "Oh, he's the runner up" Girl one: "Ew, he's so dirty"
by Kristen1641 September 05, 2006
 
2.
The person or competitor who fails to come first but instead comes second. This person or competitor is also the the first person to lose to the winner. This person or competitor is the person or competitor who is made fun of only slightly less than the person or competitor who comes in last. This person or competitor is not as good at life than the person in first place, the winner.
"Don't worry Stephen, we'll still love you even if you're the runner-up in the poster competition"

Girl one: "Oooh, who's that guy?" Girl two: "Oh, he is the runner-up..." Girl one: "Ew, he's so dirty" Girl two: "But that guy, he is the winner" Girl one: "Ohh la laaa"
by Poster Winner September 16, 2010