What is Party Cake?
1.
A slang term used to refer to an African American person. It is often used in a humorous fashion and not meant to be demeaning, but can be used in as a derogatory way as its speaker wishes. Can also be used as an adjective.
"That party cake just called me a cracker! Why can't we all just get along?"
"Rap is a typically party cake genre of music, there are not many mainstream white rap stars"
See
2.
The best icecream ever...
with its frosting and little chunks of cake mixed into vanilla icecream.