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Were two people, usually male and female, were friends before entering a sexual relationship with one and other. Neither wants to admit they have emotions for one and other so continue as 'friends with benefits' and do not enter into a relationship.
Guy: Sheree and I are always fucking each other
Guy 2: Why not just make her your girl?
Guy: Na, can't risk our friendship
Guy 2: So it's just a palship? A relationship without bullshit
Palship by BootyCallx July 16, 2014
Related Words

Palshipp'r 

Palshipp'r, palshipper.

A palshipp'r is your very best pal, palshipping is the ultimate form off paldom.

The word is depraved from the word shipper and pal, because as a palshipp'r you help your pal with everything and you ship him, as he ships you. Palshipp'r's can also be found taking in a weird unsual pirate-like accent to each other.
Pal1: ''Hey, palshipp'r, how are you?!''
Pal2: ''I'm good, palshipp'r, lets go on an adventure.''
Palshipp'r by Dan the Man NL August 27, 2009
A girl who can fight anyone AnytimE and is said to lack the vitamin S (shopping), no matter how many clothes you get her she is gonna be like omg no she doesn't has anything and would cry over kdrama's
“omg hey palshin are you ready to eat”

Palshin: “oh my god you see this skirt is soo pretty

“hey would you like to dance?”

Palshin: “see I can twerk”
Palshin by Hoenin December 7, 2021

pashipaga 

when you're in an awkward situation and you dont know how to respond
Person : You and mike broke up, right?
Response: Pashipaga~~
pashipaga by pashipaganinabuey September 17, 2020