An exclusive event organized by the coolest people in the town, where you usually get massively fucked up, meet the most amazing people, have so much fun, and much more. It can be also used as a verb, referring to the act of joining such events or hanging out with awesome people who have figured out what fun is and know how to enjoy their lives to the fullest.
Shall we shebonk this weekend? Let me know and I'll make sure we gettwo spots.
Sex. Created by a small group of kids, but I saw some guy say it on a forum, so I figure it's time to represent. Extra boinks can be added for effect as in "sheboinka-boinka."
Noun: I heard that kid was doin' the sheboinka with some skank-ass bitch.
Verb: I want to sheboink your mom.
the female equivalent of an erection, boner, wood, etc.... when a female becomes aroused. does not involve a penis, it is merely to suggest that if a female had a penis it would at that moment be erect