1 definition by Laura Mae
A prize you win because you lost. Something that losers get so they don't feel too bad about themselves being horrible failures.
Tony: Hey Joe, check out my first place trophy! Can you say 'winner'?
Joe: Hey Tony, check out my Hello Kitty Keychain. Can you say 'consolation prize'?
Tony: ...Loser.
Joe: STFU.
Joe: Hey Tony, check out my Hello Kitty Keychain. Can you say 'consolation prize'?
Tony: ...Loser.
Joe: STFU.
by Laura Mae November 10, 2007