Alcohol that has been taken from a party by an individual for drinking later on. It is stored in some sort of innocent looking container for safe transport and storage, such as a juice bottle (hence cranberry juice). Usually liquor, it could also be a can or bottle of beer which isn't stored in a different container. The act of taking cranberry juice is often performed by younger drinkers that do not have an alcohol hookup.
Amanda: "Hey do you have any booze?"
Dave: "Ehh not much. Just a little cranberry juice from last weekend."
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1. An all purpose random expression for something positive.
2. A positive greeting or response.
3. A word coming directly after a phrase for positive re-enforcement.
1. "Phaboom Mann!"
2. Fred: "Yo man i got an A on this paper!"
Dave: "Phaboom"
3. "Yo this is some awesome stuff right here. Phaboom!"