Similar to a victory lap, but instead of driving in a circle to show off, you celebrate by masturbating to your favorite porn.
-"Hey, i heard you won your match yesterday?"
-"Yeah, when i got home i celebrated with a big old victory fap."
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Masturbating proudly after a huge accomplishment. Form and posture of this Fap should be similar to that of a man standing on a mountain top, one hand held victoriously overhead and the other slow rubbing below.
Billy finally quit his job today, afterwards witnesses saw him standing on the hood of his car doing a Victory Fap.