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1.
VEP
Stands for Vomit Enema Porn.

When you discuss watching porn of Asian girls throwing up on each other and syringing it into each others' butts, you have to be discreet. Use the term VEP in public and no one will ask questions.
John: Man, we haven't watched any vomit enema porn lately.
Stan: That old lady at the other table is staring at you.
John: Let's all watch some VEP this weekend!
by neo! June 29, 2009
 
2.
Veps is a wasp in Norway. Mom's tend to love them.
Omg, I was in Norway last week and you wouldn't believe the veps that stung me!

Mom, I have a surprise for you. It's a veps!
by Vicciz June 19, 2009
 
3.
vep
very easy person
Yo that chick Lindsey is such a vep.
by dont fuck with me!!!! December 15, 2008
 
4.
VEP
Very Expensive Pussy.
These are the urban and suburban Uber Cougar set of mostly divorced, extremely wealthy women (or the daughters of such women) who frequent many social and charitable gatherings looking to see and be seen. Great to look at, but you most likely cannot afford to chase them... They might chase you if you play your cards right.
"Wow, is that (Ex- Wife of famous actor or philanthropist or wall street giant)over there? Didnt she take him for like 30 Mil? There sure is alot of VEP at this party. Damn I wish I could hit that... Damn I wish I knew what "Arbitrage" meant..."
by The Machine September 05, 2008