When a woman has a vaginal wedgie - like when her underwear or shorts are too tight or when she insists on pulling them up past her belly button.
similar to camel toes and opposite a wedgie
Guy: Holy shit, you can see that girls lips through her shorts.
Guy 2: Yea, that a great vedgie!
Mom: sweety, don't hike your shorts up so high, you clearly have a vedgie
Aternate spellings: veggie