Slang for pussy, snatch, etc.
Made famous in the Van Halen song by the same name.
If you don't know, Panama is a country in Latin America that contains the Panama Canal, which looks like the slit of a pussy on the world map.
1) I'm meeting up with Erin -- I'll be going down to Panama tonight!!!
2) David Lee Roth from Van Halen: PANAMA!!! PANAMAW-HAW--UH-OH-UH-OH!! PANAMA!!!
Prices shown in USD.
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