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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.

No pants party 

1.) A slang term for sex.

2.) A party or social event where guests are encouraged to not wear pants but instead wear their undergarments.
1.) She invited him to a no pants party at her house.

2.) Brandon sent me an invite to his no pants party next month. Boxers or briefs?

pantsless party 

A party where the guests and host do regular party activities without pants on.
Dude 1: (Walking into apartment building and sees dude 2 without pants) Dude why aren't you wearing pants?

Dude 2: Kathleen's throwing a pantsless party...

Dude 1: I don't wanna kno...
pantsless party by mrjreds November 29, 2009

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*

Pants off Party 

A great way to break the ice when performing an awkward sexual act. ex, double team, orgy etc..

Everyone takes their pants off and relaxes, until you decide to take it further.
Hey man, I hear you double teamed that slut last night. How'd you start it off?

Simple man, a pants off party!
Pants off Party by shanzeeb March 8, 2009