A pair of underwear resembling, but no limited to, briefs or mankinis. They may be a thong, banana hammock, leopard print, string etc. These style of undergarments are usually worn by homosexual men.
I saw Thomas the Jap and Kidd Chris hanging out at the Bike Stop together wearing nothing but their tiger stripe punk panties.
by T.C. The Secretary April 03, 2008
Pejorative term for briefs, used by those who prefer boxers as underwear for boys or men.
While Tom and Dave were changing in the locker room, Dave eyed his friend's briefs and said, "You should wear boxers instead of those punk panties, you know, if you want girls to think you're cool."
by Ed7281 December 31, 2007