The act of intercourse between a non-Asian male/female with an Asian male/female.
A hot Asian girl delivered my Chinese food tonight, and within an hour I was riding the panda.
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An action or proposition that sounds absolutely ridiculous, but when put into practice, proves to be epic.
You: Hey, I just saved my friend's life by throwing a stuffed duck in front of a bullet!
Friend: Dude! Way to ride the panda!
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