To quit.

This phrase comes from boxing. When a boxer is too beat up to continue, his coach throws a towel into the ring to signal that the fight is over.
1) The company threw in the towel after losing all of its major customers.

2) Mike 'Boom Boom' DeNola threw in the towel after three rounds. He'll probably have to spend a few days in the hospital, followed by a long convalescence in Miami.
by VAKI5 May 11, 2005
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To give up or surrender. Probably related in origin to throwing up the white flag, which also indicates surrender.
When I was losing by 5 in the game of Don't Throw The Towel in the Bucket with a minute remaining, I realized it was hopeless and decided to just throw in the towel.
by Nick D July 4, 2004
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To put off doing something until later because currently you are being too awesome to deal with it
Bro 1: "Dude, there is this chick totally passed out on our kitchen floor!"

Bro 2: " Just throw a towel on it. We'll deal with it in the morning. Party on, bro!"
by E.K. Trashily November 8, 2011
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A small handy towel to do whatever with. Similar to a throw pillow, but it's a towel.
yo dude, i'm goin' to the gym. you got a throw towel i can borrow?


i prefer to wipe up my semen with a throw towel.
by rabbirobbie April 14, 2011
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