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1.
Slang. Great or Cool.
Used in the same context as the term "the shit."
"Woah.. Did you see that? That was the balls!"
"Warped Tour was the balls."
by bobdole September 12, 2003
 
2.
Another Name for the The Prom as in the USA. And just as it is in the USA, the ball, as it's called in Australia, features similar events.

At the Ball you can expect to Find:
1. Girls Dressed as Slutty Preps, with Boyfriends 10 years older than them.
2. Guys Dressed as Professional Manwhores.
3. Poor Dancing and Music.
4. Very Bad Food and Beverages.

But after The Ball is the real Main Course. It wouldn't be uncommon to find:
1. Mass Loss of Virginity.
2. Mass Drunkeness
3. Mass Fights and Bickering.
4. Exposure to Powerfull Drugs.

Yep The Ball is certainly one of the greatest assets we have. Schools plan it about 1 Year ahead, and even show students how to apply condoms. Isn't it great how responsible we are?

What a great memory to have. The problem is it's not a memory, your either too drunk to remember, or never talk about it again. What a joke.
Rebecca spent an Amazing $1000 of her parents hard earned money on her dress that was too big for her anyway.

Simon spent $500 on his ball suit, made himself look professional and neat. His dad gave him a few tips and condoms.

Rebecca and Simon took a Limousine to the ball, not really caring about the ball itself, but what would eventually happen.

They ate the crap food, listened to the shit music, danced like a true couple does, showing how grown up and mature they could be. They had heaps of photo's taken, so their parents would see how great they looked and acted.

After the ball they hopped back in the Limousine were Rebecca got fingered. Once they got to the after party, rebecca and Simon drank and drank until they were completely smashed.

Simon spewed up over all of his friends, and rebecca made out with one of her best mates. Simon and Rebecca eventually hooked up, found a spot in some bush were both forgot about their condom training, and had unprotected sex for 2 minutes. Both virgins no more.

A few weeks later, Rebecca is pregnant and both of the young couple are more than screwed. Rebecca hasn't spoke to her mate either.

The Cost of Rebecca's Virginity and Dignity: $1000.
The Cost for Simon to Take Rebecca's Virginity: $500.

The Cost to Society:
1. Sexually Transmitted Infections, Arrising from New Sexual Appetite: $millions
2. Teenage Preganancy's (Government Payments): $millions
3. Cost of Unreplaceable Virginity in Future Marriage or Partner: -Unreplaceable-

That my Friends is The Ball and The Prom.
by sxar June 17, 2005
 
3.
(Noun) The balls is a term used to describe something that is anything above average. This term can be used in almost any sentence to add spice. This term is related to the term "The Cock and Balls", which is the absolute best thing that can happen.
Wow! This cake is the balls.
by seeNbees March 14, 2011
 
4.
Ron Burgundy
"Ron Burgundy is The Balls."
by superchuko September 09, 2012
 
5.
Another phrase meaning "awesome." Can be used to describe anything that is cool or fun. Also takes the form "The Cock n' Balls" meaning the best possible outcome or situation. In contrast, "The Vagina" can be used to describe an unwanted entity.

Logic:
Men > Women
Men have balls.
Women have a vagina.
Vaginas are nice, but they are unfortunately attached to a woman, making them annoying and pissy fun-vampires.
Joe: That concert last night was awesome! It was truly The Balls!
Fred: I might even go as far as saying it was the Cock n' Balls! It may have been the best concert I have ever attended!

Bill: Dude! I just got audited!
John: Man, that is The Vagina!
by TheBallsIsaWord March 14, 2011