Originally started to define a rebelliously-silly style of Punk music (ie NOFX, Propagandhi, Vandals) but now extends to anything political which doesnt take itself intirely seriously.
"this song is so drop-your-pants"
"it's drop-your-pants!"
"I'm gonna drop my pants for the government!"
"Noam Chomsky is a drop-your-pants kinda guy"