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1)Euphemism, substitution for the rather clinical word for vagina.
2)Play on the popular health-drink franchise "Jamba Juice".
Oh man, I'd sure love a taste of her vajamba juice!

Did you SEE that girl's skirt? It was so short you could almost see her vajamba!
by Professor Jonathan April 20, 2008
Missing pajamas. Vanishing (va) + pajambas (jambas). Typically when looking for pajamas. Whether under your bed or in a dresser drawer.
I can't find my vajambas!
by reptarkae August 11, 2011