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A woman (or man) with whom the person in question would be willing to have sexual intercourse. See binary system.
Two men walk down the street and see a hot woman walking in the opposite direction:

Guy 1: "One."
Guy 2: "Hell yeah that's a one!"
one by gc123 December 30, 2008
penis, dick, cock, shaft, genitalia
one by Kevin MacDougall April 18, 2008
On the Next Event; SEE YOU AT ANOTHER SOCIAL GATHERING
ONE by CHRIS JOSEPH October 13, 2004
goodbye to someone in which you mean to say, 2 people becoming 1.
one by Shanikama December 28, 2005
A way of dismissing an asine conversation or person often sugested with little to no respect.
cris: yo lemme skill that L bitch you hit
cheder: nah bitch ONE
One by Joeycracks August 19, 2007