calling someone's story suspect or a lie. a person who is telling a story that they think is cool, but actually did not do.
friend 1: last night was crazy partying in VIP with Pamela Anderson.

friend 2: I bet you did panama red.
by Panama Reggi May 27, 2009
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A sexual act in which you bridge the gap of a womans vagina and her anus by ejaculating inbetween the two, creating almost what can be considered a canal between the two areas.
I was butt fuckin this girl right, and I pulled out and gave her a panama canal.
by Division 6 September 14, 2006
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when a man is having doggy style sex with a women and flicks her butt hole till her hemorrhoids flare up then inserts his penis
man thought she wanted to go easy last night but she made me give her a Panama starfish
by dubyah19 August 21, 2020
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When your blowing cocaine in a girl's asshole and she farts and blows the straw up your nose
Damn you hear about Mike he was blowing cocaine up his old lady's ass and she farted so hard that she blew the straw out her ass and gave him a Panama Puffer.
by Maximus881 March 2, 2023
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A dumb and stupid shit created to make other ppl feel bad, bc they're not what society defines as "attractive", or you just don't have money.
"Are you Panama Premium?"
"No, that's dumb lol"
by ErnestitoQ September 27, 2020
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Getting totally screwed over. When something turns out poorly or doesn't work. Getting in a bad situation that you didn't realize would be bad. When something is a complete and total clusterfuck.
"So I went to that party, and my ex was there talking to the girl I like."
"Oh dude, Panama Transfer!"

"Lisa was about to hook up with that guy she likes but he passed out. It was a total Panama Transfer."

"I just got Panama Transferred at the DMV."
by Retrofabulous March 9, 2010
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