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Definition of Mazola party
1. Noun. (slang dated) A social gathering in which the people lather themselves in cooking oil (such as Mazola), and participate in sexually permissive activities. ¹
2. Noun. (by extension) Any type of orgy ¹
3. Noun. (by extension) Any group event that involves lathering in oil, such as bikini-clad oil wrestling. ¹
¹ Source: wiktionary.com