the person awake and standing after a long night of drinking and partying.
Cindy was the last person standing at Marisha's bachelorette party.
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While being piss ass drunk at a party, everyone pulls their pants down to their ankles and runs around the entire party. Who ever makes it the longest without someone tripping or tripping by themselves is the last man standing.
Jim, Joe, and Shithead played last man standing at at party. Joe got tipped, then Jim passed out. So Shithead won because he was simply the last man standing
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A person who is the last one standing, or sitting... or sleeping. Basicly it's just being the last one who is alive at the time.
Person 1: I'M THE LAST ONE STANDING
Person 2: *Shoots person 1* "No.. I am.".
.. What a badass