1 definition by Tam.Burger

A night meant for celebrating a special occasion; hence, your wife will wear her red fancy panties to bed you.

This is a term introduced by UFC Featherweight Champion Conor McGregor, who is a large Pay-Per-View draw and, in turn, a large pay day for whomever fights him (win or lose).
"I can make you rich. I change your bum life. You fight me, it's a celebration. When you sign to fight me, it's a celebration. You ring back home, you ring your wife. 'Baby, we've done it. We're rich, baby. Conor McGregor made us rich. Break out the red panties.'" - Connor McGregor

"I just got a raise! Now we can finally afford that Honeymoon in Paris that you've always wanted. It's a red panty night, baby."
by Tam.Burger January 5, 2016
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