Displaying excitement regardless of personal feelings. Based off the concept of wearing a party hat around your waist and over your crotch as a comical and fallic accessory.
I’m gonna have to be a real party hatpenis tonight - I got no sleep yesterday.
phrase used to describe a "bucket hat" when worn by custies, mooks and f-ed up frat boys. In a crowd of beer guzzling abercrombie wearing mooks, there will always be one wearing the hat in question.
"Some fratboy threw his Dude party hat on stage at the Dave Matthews Band concert."