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4.
A foam party is a collection of mates all vomiting on the same spot, with the aim of creating the biggest foam bubble possible.

This is best accomplished by consuming LARGE quantities of beer, as beer seems to give a consistently larger volume of foam per regurgitation.
To increase the foaminess, it is reccommended that you do anything active just before you're about to start the foam party... some examples include: hedge diving, cart-wheels, or jumping-jacks.
Ashley - Hey whats that on your shoe?
Bryce - oh shit... it must be from that foam party we had in the parking lot last night!
Ashley - Nice...
by Clinton Howes February 27, 2008
 
1.
A party where you dance madly in mounds of foam. Otherwise known as a wet orgy.
I went to a foam party, and watched people have sex in the corner.
by hannah October 30, 2004
 
2.
When a girl masturbates so ferociously her pussy juice is whipped up into a foamy lather. The term can be applied to a solo wank session or a group of masturbating girls that have gathered for the occasion.
Hey Sue, what you got planned this weekend?

Well my boyfriend is working away this weekend so I've planned a foam party wank marathon. I'm going to flick my bean so fucking hard my juice is going to soak the carpet through. Care to join in?
by ScubaSteve1234 February 22, 2014
 
3.
To gather a group into a bathroom and brush your teeth.
Before we hopped into bed I said, "Hey, let's go have a foam party!"
by TheJfo June 02, 2007