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A woman who is wearing her Ibiza cocktail dress is naked in public, especially when at a party or club.

So named after the island of Ibiza that's well known for its lively clubs and wild parties.
Jane: At her hen night, Bekka went into the bathroom and came out wearing her Ibiza cocktail dress.

John: With the tits she's got on her, she must have been a lovely sight.
by luvly.nikki August 24, 2010
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