A condition caused by dropping a hit of LSD and waiting for an hour for the effects of the hallucinogen only to be disappointed that the dose was a total dud, so you take another dose and the first dose starts to kick in twenty minutes later, and then twenty minutes later the second dose begins to take effect, and within the next hour you find yourself in the middle of a parallel universe fucking a carnival ride horse that speaks in tongues; usually this state ends in arrest for multiple felonies and a good lesson learned: LSD results may vary.
1st tripper: I totally got purple unicorned last night?
2nd tripper: How come you're not in jail?
1st tripper: The carnival was closed and I just ended up in a pasture fuckin' a cow.
2nd tripper: How was she?
1st tripper: Fine ... until the bull showed up.
3. an ill conceived plan that has no chance of coming to fruition
4. something that does not exist in the real, or physical, world
Geezer: …so this “crypto currency”, as you call it, which doesn’t exist in any physical form, is going to revolutionize the way the world transacts business?
Millennial: Yes…exactly.
Geezer: That’s just a unicorn fartin the wind.
Lavender Unicorn Syndrome occurs when, instead of using a characters name or a pronoun, you repeatedly use other descriptors for them, such as "the baker," "the ninja," "the dragon."
Common in Fan Fictions, the term spawned from the Friendship is Magic /fic/ board where writers would refer to Twilight Sparkle as "lavender unicorn" rather than using her name to describe when she was doing something.
"As Twilight Sparkle walked into the room, the lavender unicorn lifted the book from her shelf with a wave of her horn."
That's Lavender Unicorn syndromeright there. We have pronouns for a reason, people.