Not to be confused with Brunch which is a more direct joining of breakfast and lunch.
"Lunchfest" is when you wake and bake and then are too lazy to make or go get breakfast, so you wait till like 1 or so, till the hunger builds and then you pig out stoner style.
A drinking holiday; held on Thanksgiving,Christmas and New Year's Eve. You eat junkfood,watch movies,drink massive amounts of alcohol and end the evening shit-faced and listening to loud rock music.
A meal taking the place of both breakfast and lunch. Unlike "brunch" which is usually a hearty, planned affair in a restaurant, lunkfest usually consists of fast food or whatever food is lying around the house, and is usually the result of sleeping in to the point where eating a separate breakfast and lunch would be impractical.
Guy: I overslept.
Other guy: That sucks, you missed breakfast.
Guy: Who cares? I can still eat lunkfest.