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1.
A person or thing that appeals to and arouses a woman, such as Brad Pitt or the roar of an expensive car's engine.
Ryan, your dad is a real panty wetter.

or

*Revs engine* That's what I call the "panty wetter."
by AppleMonster July 20, 2009
 
2.
A particular feature of a product that evokes excitement from potential consumers. The facet of something that makes it reasonable to describe the item as sexy. (extra lights or buttons on a stereo, noises and animation on a web site, leather jacket on a man, et al)
The scent of his leather jacket is his outfit's real panty wetter.

or

Your chili is good, but there's nothing to distinguish it from anyone else's. You need a panty wetter. What if you added red peppers?
by randem July 18, 2003