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Panda B is a fictional street drug named by a format of the likes of "Special K" and such so that it may resemble the name of a real drug. It was likely formulated as a result of public school officials needing a "control question" in order to determine if students were being sincere in their answer choice by asking if they had done a fictional drug in the past month.

Since then, it has been typically used to refer to various non-drugs that are dealt among students, such as candy or other quantities of consumable things. It is also used as an excuse for acting high or drunk.
Guy 1: Man I feel like shit today...

Guy 2: Lay off the Panda B, brah
Panda B by Panda Bro October 13, 2010
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Panda Makers

An interracial couple
Look at those Panda Makers sitting at that table over there.
Panda Makers by Drake1463 February 7, 2013

Panda Sniff 

The act of fucking a nigger with your small white cock whilst an old asian man, beats his cock in the corner, hiding behind a bush
Just had the sweatiest panda sniff of my life
Panda Sniff by NIgger Balls October 1, 2016

Panda Flu 

When someone pretends to be ill even though everyone knows their not.
Andy has got panda flu”
Panda Flu by B.Gar October 13, 2018

Panda Data 

A collection of Porn, generally stored on a PC or optical medium such as CD/DVD.
Businessman: "Hey, I've got a lonely business trip coming up...have you got anything that might keep me entertained?"
Office Youth: "Hell yeah! I've got some panda data that will make you bust a nut!"
Panda Data by Dan_monkey August 14, 2006

panda regret 

The regret you feel immediately after eating panda express. Either for the calories or the explosive diarrhea you know is coming soon.
Guy: let's get panda!

Girl: Uh... Dude what about the panda regret?

Guy2: just had three servings of orange chicken. I'm having mad panda regret.
panda regret by Panda popper December 6, 2013

Panda Coma

When a person or persons eats so much asian food that they feel overwhelmingly tired and exhausted
"Hey bro you wanna play some basketball soon?"
"Sorry, but I just ate an entire serving of orange chicken and I'm about to fall into a panda coma."
Panda Coma by JurdBrown January 20, 2015