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1.
A fraternity party that occurs for several hours, then at midnight, all party-goers throw about water bottles filled with paint.
I just went to splash bash at AEPi and my clothes got so messed up with paint it was the best night of my life.
by john evanson September 05, 2006
 
2.
A family reunion involving a pool, a barbecue, sports and genuine fun in the sun!
Cool Bro: Dude are you going to Amy's party?
Cousin: No way dude, I get to go to a Splash Bash!
Cool Bro: You're so lucky, I wish my family loved each other enough to throw a splash bash... but they don't.
Cousin: Oooh... awkward.
by mailmansam7 November 25, 2011