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1.
(VERB): To Wop-out; to present one's penis as a challenge to a male aggressor. A non-violent way of solving conflicts based on genital superiority.

see also; Pop-out; the female equivalent of the wop-out, a lady presents her breasts to a female agressor, quality is assesed by size alone.
"there was this guy giving me shit at a bar the other night, so i just thought fuck it, lets wop-out, and he left"
by The_Viking_and_the_Whore March 15, 2009
 
2.
Party where Wop or Jungle Juice is served. Normally large amounts of people come to these to get very drunk very fast.

Wop Outs are very popular on college campuses.
"Dude if you want to get with Macy, you need to take her to the Wop Out, your dry streak will so be over!"

"Last nights Wop Out got me laid!"
by Max Ad. September 21, 2008