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1. do the thing
The new proper way of saying "do it".
"Want to go to the mall?" "Yeah, let's do the thing"

"That idling car is just beggin to be stolen, I need to hurry up and do the thing before the owner comes back out"

2. do the thing
A phrase for shy people who want to talk about sex acts in public (or people who want to talk about sex at work without getting in trouble).
Girl: Soooo, did you do the thing with that girl from sales?
Dude: Which thing?
Girl: You know, the thing.
by KrW Sep 7, 2005 add a video
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