Slang for what pussy looks like. Used in response to hearing something nerdy or dorky, to imply they don’t know what pussy looks like.
You: sometimes I like to say Alohamura before an elevator door opens.
Friend: actually it’s pronounced Alohomora and it doesn’t open doors, it just unlocks them.
You: pink velvet.
So, I was in the vinegar strokes with the village cockwash, really sticking it to her pink, velvet sausage-wallet, when some quumfer of a pod-nodger hailed me on the telephone!