A degrading sex act involving fornication with any pink animal. Pigs, Flamingos, and Naked Mole Rats; none are safe if you find someone willing to perform the Pink Lizzy.
"Holy crap, I got so bombed yesterday I almost gave your pet mole rat the pink lizzy."
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An Australian five dollar note. Named as such because it's pink and features a portrait of the Queen Elizabeth.
Customer: Excuse me, how much is this Yeezy limited edition tee?
Attendant: That'll be ninety dollars and pink lizzy thanks.
Customer: Excuse me?
Attendant: Ah, that's ninety five dollars.