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 money left 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 reallydumbmistake 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.