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Became popular after the Chili Peppers song "Give it away".

1) To pass on a gift that you absolutley despise instead of just throwing the shit out.

2) In reference to a girls virginity. There comes a time in every girls life when shes gotta give it up. We call it giving it away.
1) Dilon: I hate this fucking crack pot poster!

Kogod: Shit man, just give it away.

2) Mike: I'm gonna make Sandra give it up.

Doug: You mean give it away? Yea of course you meant that.
by Sean Karabekir May 11, 2006
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