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Pantydropper 

The term Pantydropper has been used to describe attractive cars, trucks, motorcycles, and boats. Source: The term Pantydropper made its television debut on the MTV show, Fast Inc. in 2006.

The term Pantydropper has been used to describe alcoholic beverages. Several variants of the recipe exist and most use vodka. Source: The Bartender's Black Book (Eighth Edition, 2006)
Recipe #1: - 1 oz. malibu - 1 oz. vodka - 1 oz. peach schnapps - 2 oz. pineapple juice - 3 oz. orange juice, Mix all alcohol before adding juices.
Recipe #2: 1/2 oz raspberri vodka 1/2 oz blueberry schnapps 1/2 oz cranberry juice

The term Pantydropper has also been used as a slang term to describe many animate and inanimate objects of sexual interest. The concept likely dates back to antiquity when large clubs were a sign of status and a symbol for productive male genitalia.
When referring to an attractive car, truck, motorcycle, or boat "It's a Pantydropper."
Pantydropper by Cob7zz August 28, 2007

dropping your pants to fart 

A Chinese expression used to indicate that some action is a complete waste of time.
Preparing these reports early is like dropping your pants to fart.

dropping faster than Bill Clinton's pants 

pertaining to a numerical measurement that is decreasing very rapidly; temperature, a stock price, ball player's batting average, etc.
there's a cold front blowing in from the north; the temperature is dropping faster than Bill Clinton's pants