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2.
Douche-bag speak for the word "vacation". See: vajayjay

Increasingly seen on ineffectual yet surprisingly annoying travel-site ads.
"Duuuude, I'm like, so stressed out, lets have a 'lil vacay next weekend."
by clayoquot October 24, 2011
 
1.
vacation, abbreviated, derived from the first two syllables

Mentioned in the movie Legally Blonde.
You won't be seeing me for two weeks. I'm going on vacay!
by vacay_definer November 15, 2004
 
3.
To go on a vacation with friends or family
How was your "vacay" to the Vegas with your boyfriend?
by DayMe November 08, 2007