reefer: slang for marijuana; refers to a joint, bowl, plant, or sac of marijuana. party: when everyone gets together at someone's house, get drunk, consume illegal substances like weed and coke, and trash the place completely. a reefer party is a combination of the both; a party with a ton of weed. there are about 3-4 oz of tree there depending on how many people go.
tanya: wusup monae, you goin to that niggas reefer party tonite?
monae: yeah girl its about to be bad! im bringing my 1/2 zip ive been saving all of it for tonight im so excited!