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Can be expression of anything positive but is usually associated with anything sexually positive. Much like the word fuck, it can be used in a number of different situations and parts of speech.
Person 1: Joe just got owned on the basketball court.
Person 2: P'chank!

Don't disturb that room, they are p'chanking in there.
P'chank by Baby Hands January 2, 2008
Related Words

P.F Chang's 

A middle tier restaurant serving Americanized Chinese food that has long lost its roots. Frequented mostly by homies and diners looking out for a quick bite, although is being marketed as something of a fancy place, with Cordials and candles. In other words, a complete mess of a business model that is extremely inefficient in its operation and is only sustained through its rapid growth. A venture not to be invested in.
"Wanna go to P.F Chang's tonight dear?"
"Nah. I'd rather eat cat turds out of the litter box."
P.F Chang's by kalkalasch September 1, 2006

P.F.Chang-ing 

To pose in public on large animal statue with one's shirt off (extra-credit if the statue is a horse).
Yo, dude, you should totally P.F.Chang that statue!
Saw your pics on facebook; looks like you've been doing some badass P.F.Chang-ing!
P.F.Chang-ing by BobbyBlake March 28, 2015

P.F Changs 

delicious fancy restaurant with american chinese food
We went to P.F Changs for her birthday dinner
P.F Changs by hastalavista August 25, 2008

P.F Chang 

A derogatory word for a pale and frail kid. Usually applies to skinny emo/scene kids that never come outside.
God, Sam is such a P.F Chang, he never comes outside and is as weak as a twig.
P.F Chang by Floogners June 26, 2009

P!nk-Chan~ 

the person that blames you for no fucking reason, has no evidence to show, and acts like an asshole for no fucking reason
Person1: don't worry about that person they are gone now
P!nk-Chan~: ARE YOU PICKING SSSSSSSSIDES NOW?????????!!!!!!

Person2: i'm here to help you
P!nk-Chan~: THAT'S BS YOU CAME FROM (insert person name)!!!!!!!!!!!!!!!!!
P!nk-Chan~ by 777Boxy666 July 16, 2018