Any form of absurdly tight underwear that extends above the belly button, usually worn by, some middle age woman, and is particularly famous amongst older generations.
Jessica- " Sometimes i feel so old."
Sean- "You think your old now, wait until your my Grandmas age. Your taste in underwear will go from thongs, to Gaunchies."
verb - pulling anothers underpants in an upward fashion from the front of the underclothing - the result can be and often is a squishing of the penis or testes in a painful manner. Similar to a Wedgie except the pulling occurs from the front of the individual.