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One who is lovable, good-natured, and fun at parties, without behaving too rambunctiously in the fashion of a party animal.

The word derives its meaning from the contrast between a cheeky, but charming domesticated house pet and an overbearing, ill-mannered stray or wild animal.
Party Guest #1: "Hahaha! Francisco is such a party pet! He's got dynamite dance moves and real charisma when he sings at karaoke."

Party Guest #2: "Yeah, he's way more fun than Jefferey; he gets wasted too fast and just ends up coming on too strong to chicks and barfing everywhere."
by gagdkjsdghkldd August 02, 2013
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