The mindset describing how high you are, short for “Phase two”, referring to smoking marijuana until you have reach a new phase of being high.

v. collectively or individually finding someone/something to blame for a problem, as opposed to brainstorming which connotes finding solutions to a problem

n. the act of finding someone/something to blame for a problem

(from a TV ad for HD television)

Shortform for Player 2. Traditionally, the second player in a video game (e.g. the Super Nintendo supports two controllers; Player 1 and Player 2).

Older generation video games did not support text for Player 1 or 2. It was shortened to P1 and P2. Today, games support multiple players either off-line or on-line; making the word obsolete.

For the geekier/nerdier audience today, p2 can be used romantically as a substitute for Valentine in the phrase, "Will you be my Valentine?" It is cliched that this audience will often spend their Valentine's Day playing games by themselves as Player 1. Consequently, they will invite the boy/girl of their dreams to join them as Player 2, happily playing the game together.

Losing an enormous amount of personal property to the point where someone cannot even take items with him/her out to a club because it is excessively clear that he/she will lose them.

Another way of saying "farts." When pronounced in Spanish, it sounds the same as "pedos," which is the plural of fart in Spanish.