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1. victory lap
When a collegiate student takes more than 4 years to graduate, each consecutive year after the 4th year is considered a to be a victory lap
Hey man, what year are you?

Second year senior, i'm on my victory lap.
2. Victory Lap
When someone graduates from highschool only to return for a fifth year.
Guy 1: Dude your still in highschool, I thought you graduated.

Guy 2: Yea I did, but Im on my victory lap.
3. Victory Lap
When you run around in circles after a great achievement or victory.
Halo, 2v2, score 24 to 24. Oh Snap! He is shooting me badly, I'm in red. I only have one bullet in this stupid sniper, and, HEADSHOT!! I WIN!! ~*victory lap*~ Wow. Alright, I'll calm down now.
4. victory lap
A victory lap involves driving around in order to waste work time while operating a company vehicle. The word has also become associated with wasting time in general, "doing victory laps."Victory laps can be measured in different lengths depending on the amount of time that needs to be wasted.
Driver: Man Nick, we have no work to do and cant clock out for another 45 minutes.

Nick: I suppose we could do a big victory lap around campus.
5. victory lap
The extra year a student has to spend in high school in order to graduate, because they are academically behind everyone else in their class.
"Are you going to grad?"

"Not this year. I can't. I have to do a victory lap, instead."
6. Victory Lap
The trip home after the guy drops a girl back to her house the morning after a one-night-stand. The man generally feels elated for the following reasons:

(a) he has recently been sexually gratified
(b) he has been set free
(c) he is past the awkward "goodbye kiss"
(d) he is slightly intoxicated from the night before
(e) he is cranking his favourite victory music and eating McDonalds
I like to play Franz Ferdiand on my Victory Lap.... "No you girls never know..."
7. victory lap
During sexual intercourse, the act of pulling out at the peak of sexual arousal and running around the partner in a circle, spraying a fountain of gism across the ceiling and walls with the objective of covering the partner in the greatest possible amount of ejaculate.
I almost drowned in Dave's semen during his victory lap.
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