The act of stealing and drinking other people's beer, usually the ass. Most commonly found with half finished cans on the beer-pong table and if you have no self-respect, out at a bar. Usually the "racoon" is heavily inebriated and is only interested in consuming more beer.
"What the fuck? Where's my beer? I told you to watch it!"
"Sorry dude, some guy came out of the shadows and started raccooning beers left and right, he got like 4 of em.
Friend: "Shit, Jimmy left the tailgate in order to see kickoff, and he locked the beer in the car"
You: "Time to go raccooning. I think I saw an F-150 parked a few spots away"
****
Fan #1 (leaving the stadium): "That was a great game"
Fan #2: "It sure was" (making his way to an unattended cooler)
Fan #1: "While you are raccooning, I will be taking a piss. Raccoon me that bag of chips while you are there"
The act of punching someone in both eyes during sex giving them two black eyes and then stealing all of their valuable possessions.
Developed by man, but I believe this act will become more popular with prostitutes and/or other hired escorts.
Ex. 1: Nice night to go Raccooning. What say ye gents?
Ex. 2: So I hired this hooker. We were goin' at it just having a good time, Then out of nowhere she Raccooned me! Punched me in both eyes and took everything I had.