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pants party 

Party without clothes. Admittedly, even the most extreme pants parties are "pants optional". But seriously: NO SHIRTS!
Dude: You're invited to my pants party.
Dude 2: That sounds a bit gay
Dude: Don't worry, pants are optional. Just don't wear a shirt. Really: NO shirts.
pants party by TreeWeezel May 9, 2011

pants party 

An event that brings together a collection of exceptional, sextastic individuals dedicated to make one night...one of the most awkward and amazing nights in the history of mankind and THE UNIVERSE!
The Pants Party (especially 2 and 4) were quite possibly the best ever.
pants party by Chazz Rockwell December 12, 2006

Pants Party 

When you get an unwelcome erections while wearing jeans or tight pants.
Joe, I'm having a pants party: I can't give my presentation.
Pants Party by PantsParty===D March 13, 2015

pants party 

This is when you get together with your bros and you all take your pants off. You then put on each others pants and just hang out with your bros in each others pants.
Who's coming to the pants party? Waist sizes between 34 and 40 inches or I guess you could just come chill and wear your own pants if you can't fit in anyone elses.

Pants Party 

Doing absolutely nothing while hanging out with your friends but talking about it like it's really cool and you HAD to be there. Does not refer to something perverted that Steve Carrell said.
"Hey Bree..I had an awesome time at that pants party"
"Yeah, we should totally get together and have another one"

The conversation is loud so as to attract others attention. Then when they question about the "party", you tell them that they have to be at one for a true experience.
Pants Party by Ellen Moore November 28, 2007

Pants Party 

Jay's favorite thing to do! z00t z00t!
Jay: Wanna come to the Pants Party?
Random Person: Sure... What kinda pants should I bring.
Jay: We don't wear pants at Pants Parties silly: *wink**wink*