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Definition of Goody bag
1. Noun. A bag containing candy, small toys and other goodies handed out as a thank you gift to guests at a children's party. ¹
2. Noun. A bag (or just a napkin) containing leftovers (like cake or crackers) from a children's party. ¹
3. Noun. A bag containing gifts and promotional material handed out at a conference, exhibition or similar event. ¹
¹ Source: wiktionary.com