1. An act of stupidity which costs you $35 million.
2. An accident involving someone shooting his or herself in the leg.
Derived from the name of soon-to-be-former NY Giants wide receiver, Plaxico Burress, and the "accident" of shooting himself in the leg in a night club which simultaneously put him in jail, ended his career, and nullified the rest of his contract.
"Yo, I can't believe that idiot had a Plaxident! Now he has no moneyleft and might go to jail!"
An act of stupidity that costs you a lot of money; disabling your source of income
Jane, a model, was afraid of getting mugged and beaten so she carried a knife at all times. Running for a cab, she had a plaxident and fell, slashing her cheeks.
Any really really dumbmistake that is both personally devastating or painful and publicly humiliating. In reference to Plaxico Burress shooting himself in the leg.
Steve: Did you see that Plaxico Burress shot himself in the leg? What an idiot!
James: Yea, what an awful plaxident.
Andy: I was running the other day across the street and tripped over myself, falling in front of a bunch of people who laughed at me. It was the worst plaxident of my life.