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1.
A non-alcoholic drink; Dr. Pepper and Grenadine.
Ordering a drink- "I'll have a Velvet Sanchez."
by Eowynz November 09, 2010
 
2.
A shooter made with vodka and baileys. The shooter glass is rimmed with chocolate syrup, giving the drinker a chocolate mustache after it is consumed.
The Velvet Sanchez is a shooter drink: like a Muff Diver - but different.
by TeeBird April 03, 2012