The word used to describe penis, balls, vagina, anus and boobs in a useless and misunderstood way (especialy using the word to "teach" children) and usually what parents tell their children not to let strangers touch
seriously I can't believe i'm the first person to put this in...
then again its not really an urban word...
n. party of close friends with few if any outsiders, typically in someone's house/basement/garage/apartment above the garage. typically involves large amounts of alcohol and shenanigans
that time we hung out in Rachel's aunts garage and got so blasted on jello shots, had Sir Nicklington run the gauntlet and boosh chugger chugged a bush lite and puked gloriously on video.....THAT was a private party.