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1. A reference to the outline of the male genital area as viewed through pants/swimsuit/undergarment. See also package. Term often used by gay men in assessing the potential size of a potential suitor.
Gee whillikers, Luke - did you notice the size of Lawrence's basket? Jeff Stryker ain't got nothin on THAT piece o' meat. Come - lets fetch another crantini, and shake our booty to some 80's Europop!
basket by GenuineNine December 18, 2003
An item, into one of which you should not put all your eggs.
Margo: A tisket, a tasket, I lost my yellow basket...
Alice: Did you have all your eggs in it?
Margo: Yes.
Alice: ...Damn.
basket by Lady Chevalier May 14, 2005
Drug reference/slang. Quite often an eight-ball(3.5Grams) of cocain.
"Yo, I got a basket for $280 . Hit me up if you're interested."

Or various endings in that particular sentence, like :
Hmu !

Hmu if you're interested, turnt, gettin twisted, want in on this, "ya like," down, etc"
Basket by Gypcy March 5, 2016
This word can be used synonymously for vagina. This offers another fun/slang way of referencing one's lady parts.
Girl: My basket is moist.

Boy: Nobody likes a smelly basket.
Basket by Realistest October 22, 2014
A code word used to let your friends know that the situation is uncomfortable and you would like to get out of it.
when hanging out with people you dont know so well.
you: basket
your friend: well guys we have somewhere to be and were late so we'll see ya later.
you: thanks man that was sketch
your friend: yeah it was.
Basket by A-dub<3 August 16, 2010
A basket- crazy acting or silly. Usually describes somebody who is funny.
for example: that chick's a real basket.