When someone dresses up in Teenage Mutant Ninja turtle (preferably, but regular turtle will do fine) apparel, and proceeds to get their dominatrix on with a woman. The wearer of the costume gets bonus points for a "cow-a bunga, dude."

It’s an acronym standing for Can’t Remember A Fucking Thing. It’s usually used to describe embarrassment at being unable to remember someone (CRAFT moment); going onstage as the lead in the latest theatrical performance and your mind goes completely blank (CRAFT situation); the next morning after a night when you got pissed as a fart and woke up in bed cuddling a traffic cone and a string of fairy lights wound round your prick.