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penis cutter conversation 

Used to describe a conversation in which the topics discussed is so secretive -or if any said information is retold- may result in disaster for those discussing.
Derived from the phrase:
"Or I'll cut off your penis, light it on fire, and smoke it."
Remember, this was a penis cutter conversation, if you tell anyone anything, I'll deprive you of your manhood.
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parking lot conversation

n. A long-winded discussion among group of three or more people often due to indecision of where the party wants to go next (often pertaining to eating). This often takes place in a parking lot.
I was just going to say hi to Joe for a moment, but it winded up becoming a parking lot conversation.

Manny: What took you guys so long?
Harry: I was stuck in a parking lot conversation.

parking lot conversation by d_art December 19, 2008

Flying Horseshit Conversation

The humorous conversations you have (usually while drunk or high) that go on about abstract, "what if" scenarios for very long lengths of time, usually until someone says something stupid and you all quit so they won't talk again.
We had a flying horseshit conversation about maxi pads, and decided that they would be better off called "blood sponges," prompting the new cartoon character "Blood Sponge Square Pants."

The First Law of Conversation 

The First Law of Conversation (abbr. FLOC) states that one will always tune into a conversation at the most awkward point. Many linguists believe that this is God's punishment for eavesdropping.
"...And, on top of that, I had to go take my wang out of the tub drain!"
"What are you guys talking about?!"
"Oh, you just proved the First Law of Conversation, bitch!"

adult conversation 

A phrase used by American politicians to imply their opponent is acting like a child by supporting or opposing a certain position.

The irony of the phrase is that most children have an easier time compromising on divisive issues.
John Boehner: It is time we have an adult conversation about entitlement reform. Democrats need understand the reality of our fiscal situation.

President Obama: Well it's time that WE have an adult conversation about the budget.

Donald Trump: That's fine, but it is time we have an adult conversation about Obama's place of birth.

Natural Conversation

Prostitution slang for unprotected blowjob. A variation of BBBJ (bareback blowjob)
Jasmine fluent in Greek and natural conversations.

Shower conversation

A conversation in which one expresses all of their points in the exact ideal way of doing so, involving all possible arguments and pieces of evidence; i.e. a situation where one does not think of additional insults or supporting ideas in the shower, after a disagreement has concluded.
"Luke said that he doesn't get too close to girls when he talks to them, I told him that's exactly what he does and everything that everyone has always wanted to say to him. Get fucked Luke."

"Sounds like a right shower conversation. He got fucked."

"Yeah."