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A Pancho is the spanish word for Hotdog. Nickname of the crack dealer that is always in the back of the alley wearing the same blood stained shirt every Monday. It can also mean a gay black blanket that shines at night and is commonly used in porn videos. And it could be "small dick". Word used to define a person that buys those TV ads machines to make gym because he is gay. Person that has a van with the sign "free candy" written.
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