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Cocktail Party 

When a group of at least 4 males masturbate to ejaculation into a wine glass, and then pour it onto an unsuspecting sleeping, or passed out (drunk) females face at a party. Usually a passive aggressive way to settle a score.
Joe: Man, that cunt Abby just slapped you in the face dude..

Chris: I know man......You thinking what I'm thinkng?

Both: Cocktail Party!!!
Cocktail Party by C0kt@l3 w8tr December 15, 2012
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cocktail party 

When the cock of one person and the tail of another have a party. A.k.a. anal sex.
"Private Long, if you don't shut what I call the fuck up, we're going to have a cocktail party tonight!"--Drill Sergeant
cocktail party by Private Long September 21, 2006

Cocktail Party 

Party in which all participating males of a circle jerk ejaculate into a cocktail glass. The loser, or the man to ejaculate last, must take the scrumptious drink, and give it to his girlfriend. Should the loser not have one, he must proceed to drink it himself.

Either way, you are going home alone that night.
Friend 1: We had a nice, friendly little Cocktail Party.

Friend 2: And?

Friend 1: I ended up swallowing 13 different men's semen at once.
Cocktail Party by The Loser April 2, 2012

Cocktail party 

Where sophisticated grown ups go to lie to each other; dry hump in closets.
"Life is just one big stinking cocktail party isn't it doc?"
"Get out of my car."
Cocktail party by Anymajor-dude November 14, 2014

Cocktail Party GOP Establishment 

Noun

The elite fat cats and cronies in the Republican Party who smoke cigars in wood-paneled rooms and spend all their time doing whatever it takes to maintain their own personal power. These are the guys in blue blazers and khaki pants who eat cucumber and mayonnaise sandwiches at cocktail parties and sell-out the people who vote for them because once they get to Washington they become obsessed with staying in the media's good graces instead of doing what voters wanted them to do. They are the American aristocracy and the Republican elitist stereotype.
The Cocktail Party GOP Establishment hates the Tea Party with a passion because anything that upsets the status quo and jeopardizes the Cocktail Party's permanent hold on power gives all these guys serious indigestion.

cocktail party fart 

When using the cocktail party effect, one is able to hear their own fart in a loud environment such as a party or concert.
I enjoyed the loudest cocktail party fart in the middle of the guitar solo, and no one heard a sound.
cocktail party fart by Garpike August 23, 2011

Cocktail Party Value

A metric used to measure the social currency or "cool factor" of a project, startup, or career path. It evaluates how much attention, intrigue, or immediate conversation a topic generates when mentioned in a casual social setting (like a cocktail party).

While a project might have high Cocktail Party Value (CPV), it often exists in inverse proportion to its actual utility, scalability, or boring-but-stable profitability.
High CPV: "I’m building a holographic smoke projector for underground raves." (Result: Everyone stops drinking to ask how it works; you are the most interesting person in the room.)

Low CPV: "I’m optimizing the database architecture for a mid-sized payroll processing firm." (Result: The person you’re talking to suddenly remembers they need to find the bathroom.)

High CPV: "I created a mobile game where the only objective is to smash testicles with various household objects." (Result: Disgust, laughter, and ten minutes of follow-up questions.)

Low CPV: "I sell insurance for cargo ship containers." (Result: Absolute silence, though you probably make more money than the hologram guy.)

"The app is a total nightmare to monetize, but man, the cocktail party value is through the roof."

"I'm tired of working on projects with zero cocktail party value; I want to build something people actually want to talk about at a bar."