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Sexy latina, usually young, big breasted and with a round protruding behind.
Hey ese, there were so many panochitas at the Panorama Mall, it was crazy dude!
by Panocha lover July 29, 2004
"Pussy," in Spanish.

Me gusta mi reggae
Me gusta Punk Rock
Pero la cosa que me gusta mas es panochita

I like my reggae
I like punk rock
But the thing I like best is pussy

(Lyrics from Sublime - 'Caress Me Down')
by TimboCoc November 21, 2004