A sexual act in which a large number of men ejaculate into another man's stretched-out asshole, and then eat eat nacho chips using their semen as dip.
Dude those chips at last night's nacho party were fucking delicious!
by Abhoration April 19, 2008
A gathering of people in which more than one nacho chip (with cheese on it) and at least one balloon is present.
Person #1: I guess it's just you and me and this balloon. Person #2: Yup. Person #1 Oh look a nacho chip with cheese on it. Person #2 Nacho Party. Boom.
by That's right B October 15, 2013