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Part 1. A term for having the best time of your life. An expression designed to encourage a feeling of often superficial happiness or satisfaction. An encouragement to party.

Part 2. A term often used to indicate/mask the fact that sexual intercourse has taken place or will take place.
Part 1. Biff - (on the phone with Todd) "Friday night, got some booze, the girls from next door wanna hang out, what the dealio?"
Todd - "POOM TIME!!!"
Part 2. Biff - (walks into his bedroom with hot gal while the party is still rocking)
Todd - "POOM TIME!!!"
by SebastianFC October 01, 2009
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