What is Poonsauce?
1.
Adjective
Describes something that is completely friggin sweet.
Equal to 
Puts the item being described on par with the mighty 
Hey Apu, this new beef-jerky is the poonsauce.
-or-
I can't wait to get to the beach, its going to be the poonsauce.
See 
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1. 
A challenge in which one must chug a 40 of malt liquor under one minute.
Damn Lamont did that 40oz challenge in twenty-one secounds
Se..