To park your car in the best spot in the lot, usually by the building's entrance.
Bob and Fred are students at a university.
Fred: Hey I missed the first 10 minutes of lecture today. The lots were filled. You?
Bob: Nah I was pimp parking this morning.
Backing up into a parking space instead of just pulling into a parking space.
She said they were about to tow her sons car away because he pimp parked.