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1.
1: two strips of bacon that have attached themselves to one another in the pan while being fried.

If one is generous enough to share his or her plate of bacon, bacon buddies are to be counted only as one slice.

2: When two people become such good friends that they are willing to share bacon with one another.
Example 1
Guy 1: "Hey man, thanks for sharing your bacon with me!"
Guy 2: "Your welcome. Just remember that I get all the bacon buddies."

Example 2
Girl 1: "Andy shared his bacon with me this morning. We're bacon buddies now."
Girl 2: "I knew he was the one for you."

Example 3
Girl 1: "Hey, can I have some of your bacon?"
Guy1: "I think we need to stop seeing each other."
by Uberpaws February 20, 2010