The false sensation of feeling your cell phone vibrate in your pocket when you're suffering from textpectation or expecting a call from that certain girl (that will never actually call you back).
Guy #1: <whips cell phone out of pocket>
Guy #2: She finally got back to you?!?
Guy #1: Nope. Damn, it was just phantom buzz.
Guy#2: Ouch, sorry dude.
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The feeling of nostalgia or euphoria after consuming a non-alcoholic beverage that closely mimics the taste and aroma of an alcoholic drink.
Man I miss drinking, lets crack open some 0.0% Heinekens and catch that phantom buzz
when you wear a Blackberry or cell phone with a belt clip, and you think you feel it buzzing, even though you are not actually wearing it at the moment.
Cubical worker 1: "Hold on, I bet this is Sarah..."
Cubical worker 2: "Dude, you're not even wearing your Blackberry!"
Cubical worker 1: *sigh* "Phantom hip buzz."