Displaying excitement regardless of personal feelings. Based off the concept of wearing a party hat around your waist and over your crotch as a comical and fallic accessory.
I’m gonna have to be a real party hat penis tonight - I got no sleep yesterday.
That one person in your tribe who is always happy and ready to make some bad decisions.
Make sure Party Hat is not the designated driver tonight!
A Condom
It looks like you took your party hat off too soon; there was fluid on the sheets.
Another name for a bulging erection. Sometimes referred to as rise in the Levis, pitched tent, or hound mound.
As soon as she walked into the room every straight guy in the place had on a party hat.
The act of upending one's drink onto another's head, the inverted cup appearing to be a party hat.
Joe: Did you see Grant hitting on Nicole last night?
Mike: Yeah, but his girl saw and definitely gave him a party-hat.
Joe: LOL
When you get shit all over your dick, in the shape of a hat, after pounding your partner in the ass.
After a long night banging your mom in the ass, I walked away with a chocolate party hat.