a holiday celebrated on usually the last Saturday of February, including activities such as Mustache Parades and Yankee Swaps
ex. I went to a Phat party last Saturday and got a Jesus nightlight in the Yankee swap. It is now in my bathroom.
by nutellacat69 February 22, 2013

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P-Hat Or Party Hat is a very Rare Discontinued Runescape Item that is worth Hundreds of Millions of Coins
Noob1 - wow that guy has a P Hat .. he must be rich.
Noob2 - Dude, P Hats are a sure sign that guys never been laid...
by ZMAF May 03, 2011

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A word meaning sexy/hot/good looking.
Girl 1: Wow check out that phat guy over there.
Girl 2: Yeah, he's phat alright.
by dazza___stephiee_x_X May 05, 2009

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PartyHat
An item of the online game runescape.
a:wish i could afford a phat
b:if you kill green drags for the rest of your life you will be able to!
a:yay!
b:nerd.
by baleeta April 08, 2009

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1950,s NYC, urban black culture slang.
Pretty Hips And Thighs!
She's phat! Man (typically) speakes to another about a woman's (typically) voluptuous figure.
by Gaia's girl July 31, 2006

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A more insulting way of saying "fat," because it seems to have originally been a lie that you weren't fat, but only cool (phat). Being called fat in deceit is far worse than just being called plain fat.
"You're fat," Jeff said.

"What?" Erica asked.

"Uh, you're phat," Jeff said. "You heard of 'phat,' right? With a 'ph?'

"Litmus testing?" Erica asked.

"It means cool," Jeff said.

"Fuck you," Erica said.
by Ereck Flowers May 27, 2015

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big butt
wow that girls got a phat butt
by RCUOZ April 26, 2015

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The Urban Dictionary T-Shirt

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