Occurs when one reaches into a non-transparent container expecting to pull out the item that container holds, only to find that the container is, in fact, empty.
When you take the last contents of a container, and purposely leave the empty container with the intentions of making the next person think there is something in the container.
"Dude, I went to grab a beer from the case in the fridge, but I got arevalo'd!"
"There's only one more beer. Fuck it, it's getting arevalo'd."
"Why did you arevalo the last of the cereal, asshole?!"