The feeling that you get when your wet-suit rubs up against your......you know. A tickling kind of feeling.
I was wading throuhg the water and then I stopped and noticed the Panama Sensation in my wet-suit.
by Alexa Rae February 10, 2004
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The sexual act of dipping your penis into a jar of pickle juice before recieving oral sex.
The last time I tried to get a panama pickle, it stung my penis. I did it anyways.
by Cousin lovin July 26, 2009
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Another name for a running-gag joke told by senior members of a club/organization/military to junior members that have no previous personal knowlage of the people involed in the the joke. The joke usualy involves obsurde snippit's of information alluding to a larger, most likely to top all story about a vacation/trip/deployment (in some cases to Panama, due to it's interest to others simply as a foriegn country, it's lack of reccord keeping, or the fact that "Panama" is a fairly easy word to remember) that had gone horrably wrong. The cleverness of the joke comes form the presenter's ability to make the hints as outlandish as possable without the junior or reciever figuring out it is a hoax, and while only alluding to the actual story.
Hey, that cherry has no Idea were pulling a panama (panama joke) on him!
by Kyle, 1st. LT January 4, 2008
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Receiving a hand job, with the aid of Panama Jack tanning oil as a lubricant.
Bro, me and Tina were at the beach yesterday, it was basically a dead scene, I had a couple beers and she hooked me up with a Panama Jack.
by sanfred June 19, 2011
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An violent act in which the Cuban Necktie (Panama) is combined with a Cleveland Steamer (Caboose).
Carlos, spurred by his desire to quickly climb the ladder, decided to step it up a notch and take out a rival drug lord by giving him a Panama Caboose.
by cheesewheezy June 5, 2009
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The "Panama Shift" is a well known sex rotation for three people. It was created to keep sexual activity constantly going throughout a 24 hour period. It generally involves two transvestites and one male. This allows one person to take a break while the other two are having sex with each other, and a rotation is established.

The Panama Shift can also be accomplished with two transvestites and a female, as long as she has a strap on dildo. This is sometimes called the Panama Giraffe.
Tom: "Hey, guess what I did in Rio De Janeiro!"
Mike: "Banged all the trannies there?"
Tom: "Not all of them! But I was part of a Panama Shift!"
Mike: "Awesome!"
Tom: "My butt hurts now, but it was totally worth it!"
by lumberjacker55 December 16, 2010
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1: The feeling reached when someone "Remembers that night in Panama"
2: Described as the feeling of the wetsuit rubbing against the genitalia when exiting the water.
Hey Alexa I just had the Panama Sensation kind of reminded me of that night in Panama damn it was good.
by Big Deezy February 15, 2004
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