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A Jelly taco, is simply a vagina during it's menstral cycle. If a female were to be having her period, she and/or her vagina would be referred to as a Jelly Taco.
"Yo did you hook up with that chick last night"
"Nah dude, shit was jelly taco didn't go near it."
by BonelessWingsLax February 22, 2008
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