The first friday after Valentine's Day. Sometimes can be extended by as much as a week. It is a time for mock Berlin walls, great speeches, jelly bean eating, and games such as Ring around the Reagan and pin the red on the Reagan. Origins forgotten.
"Why are you all dancing around that strange snowman?"
"Duh, that's Reagan, and it's Reagan Day, and we're playing Ring around the Reagan"
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.
"Base we've got some square groupers floating outside of Miami harbor."