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1. A slang term telling someone good-bye, used with a hand gesture in which you pound your chest with your fist twice, then give the peace sign.
In Napoleon Dynamite, Kip acted cool and told Napoleon: "Peace Out".
by Disco_Bandit February 11, 2006
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Aug 7 Word of the Day
A celebrity free pass is an agreement between you and your significant other that if you meet said celebrity and there is an opportunity to sleep with them, your partner cannot get mad at you for doing so because you had agreed before hand that this person was your celebrity free pass. It is ideal if both of you in the relationship choose a celebrity free pass so that the playing field is even.
Julia met Drake at a bar, and hooked up with him, knowing that her significant other could not be mad at her, because Drake was her celebrity free pass.
by gingerale011 March 25, 2011
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2
A wannabee hippie saying good bye.
Dude 1: Peace out maaaaan.
Dude 2: Riiiiiiiight.
by A REAL hippie August 22, 2006
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3
depending on the context:
1) c ya later
2) fuck off
1) ok, gtg. peace out!
2) peace out, loser (d.)
by ppppp May 01, 2004
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4
1. Goodbye
2. (intransitive verb) to leave or retire
3. (transitive verb) to kill

Note: I only heard the third meaning recently, but I thought it was pretty funny so I've included it.
1. "Yeah, see you then, peace out."
2. "Yo I gotta peace out, I'm tired."
3. "I just peaced out that spider with my shoe."
by Anonymous October 20, 2003
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5
A very informal goodbye greeting; 'see you later'. Sometimes used in an ironic fashion for goodbyes that should be more serious, i.e. the recipient dying, being killed, defeated, or left behind.
Peace out, Holmes. Catch you on the flipside.
by Jeema November 09, 2005
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6
A common misspelling of "peace out." People who are too lazy to hit the space bar use it. Everyone who uses "peaceout" should just peace out.
Loser: i g2g, peaceout Bill.

Me(Bill): Peace out, you fuker! It's peace out!
by Bill Will Bill June 23, 2006
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