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1.
to walk down the street, as if it were a runway
The way Aisha is catwalking you'd think she was Kate Fucking Moss. 
by colorblocking July 02, 2013
 
2.
A bike trick. To ride on the bike while the front tire is in the air.
His tire is in the air which means he is catwalking.
by Joshua Beebe October 26, 2007