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7.
The act of defacing a restaurant's restroom by writing the word "Panama" in feces on the bathroom wall in revenge for poor service.
Dude, Andy totally did a panama on stall number two after the waiter took thirty minutes to refill his drink.
by Store Creature June 22, 2009
 
1.
(n): A beautiful country in Central America bordering Colombia and Costa Rica. Pop: 3,000,000. It is home to the Panama Canal, providing access to ships from the Pacific to the Atlantic Ocean.

Rich in history and tradition, Panamanians are usually found to enjoy the magic of Seco (their traditional alcohol made of sugar cane), some good Plena (simmilar to Reggae, popular in Central America and the Caribbean), and spending lots of time in their beautiful beaches. They are characterized by their need to party, play soccer, and always have a good time.
Person 1: I had lots of fun partying and drinking on this bus that took me and my friends around!

Person 2: A moving bus with alcohol and a party?? Where was that!?

Person: A "chivita" ... in PANAMA!
by Betty21 June 08, 2005
 
2.
the most beautiful country in the world. used to be part of Columbia until november 3, 1903 when it declared its independence from Columbia. it is an isthmus because it connects South America and North America like Egypt connects Asia to Africa. RexGibson the douchebag who says it means pussy is a dumbass so he can go straight to hell fuck him. although not that big of a country it has an abundance of mountains a jungles not to mention that it is sorrounded by the Atlantic Ocean to the north and the Pacific Ocean to the south making it one of the best places to see a sunset or sunrise. stupid ass americans invaded panama in december of 1989 with their operation "just cause" and killed 4000 panamanians. "just cause" my ass.
Panama, i was born there and lived there most of my life. thanks america for killing ruthlessly killing our people and and disregarding the properties of panamanian citizens.
by el reye August 05, 2006
 
3.
The act of listening to the song "Panama" by Van Halen with two opened beers held high over one's head and, at the moment that the song reaches the point at which the word "Panama" is first sung, tipping back one's head, opening one's mouth, and smashing said beers against each other and catching what liquid one can in one's mouth.
Why are there beer stains all over your ceiling?
We all did a panama in here, it was intense.
by Zahm House December 09, 2010
 
4.
V. The act of making a molotov cocktail out of a vehicle by sticking a rag or a lit cigar near the gas lines. This is named for the Clive Cussler novel-turned-movie, Sahara, in which the main characters (Dirk Pitt and Al Giordino) turn their boat into a molotov in order to blow up two pursuing boats. They named it a "Panama" because they first did this in Nicaragua, mistakenly thinking they were in Panama.

N. A truly beautiful isthmus country, with lush rainforests, gorgeous women, and a canal sponsored by the U.S. during Teddy Roosevelt's time in office. One of the few places where you can swim in the Atlantic, hop in a car, and swim in the Pacific before you have a chance to dry.
Dirk: "I think we need to do a Panama!"
Al: "Are you crazy?!"
Rudi: "What's a Panama? When were you ever IN Panama?"
Dirk: "It's a Navy thing! We THOUGHT we were in Panama!"
~the scene goes on~

Claire: "I'm going to Panama this summer."
Me: "Lucky!!"
Claire: "I have 2 tickets. Pack some sunscreen and bring a few extra memory cards for your camera. You're coming too."
by Dragomir Andreyevich July 29, 2007
 
5.
The act of masturbating while driving. Derived from a line in the song "Panama" by Van Halen, "I reach down between my legs n' ease the seat back"
That was a nice little drive I just took. Panamad it three times between here and home.
by AutisticAuggie August 06, 2011
 
6.
The act of oiling up a the back of a male banker.
Dude: Dude, what is that guy doing?

Dude's friend: He's totally giving that guy a Panama

Dude: Oh Nasty!

Dude's friend: No its ok he works at Goldman Sachs.
by Colon 2010 April 07, 2010