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1.
The physical manifestation of sex, drugs and rock and roll in a person or persons.
"Dude, I got some coke, barely any cut, let's take it to Joan's house and do the waltz!"

"Man, everyone at the concert was getting their waltz on."
by Smokestack420 February 22, 2010
 
2.
a man who loves men and cadillacs (not in that order)
The waltz is on the prowl, look out.
by cal 007 September 10, 2007