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1.
a rainbow, usually used as a noun, or anything relating to a rainbow-like object; not a gay person
there was a pissnotch in the sky and it was lovely!

chris is a pissnotch.
by campy October 16, 2004
 
2.
a rainbow; usually one that spans over many cities and shimmers many gorious colors
I saw a lovely pissnotch when I walked through the park yesterday.
by Johnson Foliage October 16, 2004