An exclamation used after something anticlimactic happens.
Person A- * drops mentos in coke *
*nothing happens*
Persons A and B- Pancake!
Where two guys put you in the middle and start getting their swerve on.
If I come in there you guys aren't going to pull no monkey business and tryda pancake me ares ya?
A vagina that has been ****ed so much, it looks like some nasty pancakes.
John: Say Luke, did you get it on last night?
Luke: Nah man, that girl had some nasty "pancakes".