A "shaved down" is a hairy middle eastern person that shaves their hairy face and body to appear like an American.
Look at that "shaved down" eating some apple pie and watching a baseball game.
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A reference to a girl having a freshly shaven or waxed vagina. This refers to the "shaven" trend, especially among hot young ladies.
Dan wants a car that will attract a woman with a shave down below.