Top definition
A epically pitiful, sad and lame organized event attended and appreciated by loooosers.
Steve's high school birthday parities were always epic faillapaloozas where a few losers giggled over a single can of beer, his dad's old Victoria'a Secret catalog and ultimately spent most of their time mass debating over PC vs Mac OS.

The company Christmas party is a faillapalooza for reluctant department heads & their sycophants.
by fuzzygreysocks May 30, 2010
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