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The pocket in a girls purse that she doesn't know about until important items fall into it.
While looking for the lost item, the girl panics and ponders where else the item could be.
The girl then stops panicing because the item was found in the corner, unused, unknown about pocket of her purse.

Word originated in Mississauga by Katherine
I couldn't find my cell phone, I looked through my purse, car and room. I found it after I called it, and it rang from my purse. It was in the panic pocket.
by KatherineZ July 14, 2008
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