It is when something or someone is Beyond Awesome. When awesome isnt enought to describe the word.
Wow this Chinese food is so total Unikorn, it blows my mind.
by Mindy & Brandon November 03, 2009
A dude who walks around in public with a visibly erect penis.
Oh my God! It looks like Mike is wearing sweatpants without underwear again, and he's turned on. What a unikorn!
by Peter Phil McCracken March 10, 2009