1 definition by PDX Bag Hunter

Top Definition

Inserting a used/filled condom into the bottom of a girl's purse. If everything goes right, she won't discover it for a few days, hence the "Moldy Poncho'.

My girl was being a trick ass trick so I hooked her up with a moldy poncho.

by PDX Bag Hunter March 25, 2010

Buy a Moldy Poncho mug!