A greeting to which the proper reply is BURRITO.
“TACO!”
“BURRITO!”

An expression of awesomeness. Used to display pleasantness and overall good vibes.
“TACOING WELL ARE WE?”

An expression of intense action or extraordinary drive.
“Just TACO it.” “Let’s TACO”

Somehow related to the ninjas of Merf who fight against the forces of unpleasentness. (which is an entirely different story)

TACO is a very versatile word that can be used in place of many expressions, usually to mean great happiness. It can be used in place of many phrases leaving the exact meaning blank and replacing it with awesome and pleasentness.

“Hey TACO.”

TACO is related to BURRITO and the occasionally used BURTACO.
There meanings are all the same as TACO, but their usage is less frequent.

1. A gay man or a lesbian woman. Most often used to call out gay men secretively.

to defeat a team in a home court advantage with the home team score 100+ and the visiting team less than 100; Ex. Staple Center and the Los Angeles Lakers

wraping your balls around your dick making a taco shape

diarreah inducing magical wraps of glory. usually purchased from chain taco restaurants made by 40 year old Mexican women.

steps to "taco":
1. cut someone off while they are walking by stepping in front of them.
2. bend completely in half facing forward so that your ass is pushed against them, arms extended overhead.
3. yell "taco!"

the victim is confused and stopped abruptly.
best in the hallways, malls, games, or other public places.

the tacos you eat, usually at pokey's house after smoking a blunt or two.