1 definition by surprisecomedy
Meaning that one is not pregnant; throwing a metaphorical party in celebration of getting your period instead of a baby.
Guy 1: So how did things go with Jessica? Is she pregnant?
Guy 2: Nah man, it's all good. We're throwing a red balloon party this month.
Guy 2: Nah man, it's all good. We're throwing a red balloon party this month.
by surprisecomedy May 7, 2013