A man's undergarment that acts as a modern day cod piece, enhancing the size of the genitalia. Typically thong or g-string style in bright or neon colors. This phrase is only used from the man's perspective, as no woman actually finds these undergarments attractive.
When something is so awesome that using the word awesome isnt enough. and panyloonies is a cool word.
adding it to the word awesome.
makes an extreme term of awesome.
"OMG, Paul was soo checking me out, and so we started flirting and the next thing i knew, he asked me out! =D "
"awesomepantyloonies!"