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Phelps-it

to smoke pot. and get away with it with minor consequences.
Dude, wanna Phelps-it tonight?
by purplebutterfly February 6, 2009
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Phelps'd It

Hey Johnson, great job on the Warner account, you really phelps'd it!

OR

Michael Phelps just broke another world record....he really phelps'd it!
by Morgan Alexander Kahut October 18, 2008
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