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An object of high value that everyone wants. Originally the term "MacGuffin" with the same meaning, used in literary plots.
Random person: "I love your car!"
Me: "I know, isn't it just a maguffin?"
by Leb January 31, 2004
The device in a Television Show or Movie which keeps the plot rolling, generally a character or situation.
The MacGuffin of 24's third season was the threat of a nuclear holocaust.
by SoylentGreg July 17, 2005