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1.
Adjective
1. Made a participant in knowledge of something private or secret: was privy to classified information. 2. Belonging or proper to a person, such as the British sovereign, in a private rather than official capacity. 3. Secret; concealed.
Noun
Inflected forms: pl.priv·ies 1. a. An outdoor toilet; an outhouse. b. A toilet. 2. Law One of the parties having an interest in the same matter.
Etymology
Middle English prive, from Old French, from Latin pr*v*tus, private, from pr*vus, single, alone; see per1 in Indo-European roots.
by Alex95628 May 21, 2005
 
2.
A collective noun for a group of assholes.
Sitting at the bar was an entire privy of assholes.
by Fetching Bums August 24, 2013
 
3.
A lavatory in a shed or other small building outside the house.
When you've finished reading a newspaper, you can tear it up and hang it from a nail in the privy. You can't do that with on-line editions.
by Urban Joe May 26, 2012
 
4.
a highly ambiguous phrase that can be used much like the word "Smurf" among the smurfs, with its deriviatives taking on other parts of speech. Privy is often used to describe something that is exceedingly cool.
1. Man, did you see when that bird shat in that guys mouth? It was so privy.

2. Check out Privy McPrivyson, Privying down the privy slide.

3. If you're privy to the privy, then privy on over to the council of the priviest bunch of muthaprivers you ever privied with.

4. eB: i shall write LOL
eB: hell, even LOLZ
eB: actually, it should now be POL
eB: privy out loud
by Melido Perez August 12, 2005
 
5.
Noun
Toilet, outhouse, crapper, water closet
Does this campground have a privy?

I've seen cleaner privies in a refugee camp!
by Momenator August 04, 2014