Became popular after the Chili Peppers song "Give it away".
1) To pass on a gift that you absolutley despise instead of just throwing the shit out.
2) In reference to a girls virginity. There comes a time in every girls life when shes gotta give it up. We call it giving it away.
1) Dilon: I hate this fucking crack pot poster!
Kogod: Shit man, just give it away.
2) Mike: I'm gonna make Sandra give it up.
Doug: You mean give it away? Yea of course you meant that.
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