A suddenly "hip" new mainstream way to spell the word "prom" (the senior dance at the end of the year). It is pronounced as if someone is stretching out the word. Usually put in captions on social networks. Sometimes misspelled as "praam".
*INSTAGRAM PICTURE*
Caption: Omg praaam :) lol #praaam
person 1: what the heck is praaam??
person 2: Its prom, duh!
person 1:... are you an idiot?