Term used most often by parent describing their ludicrously over-dressed teenage children. Closely linked to You're not going out dressed like that

Actually I never have seen or heard it used in that sense as described by dizzy. While his take is quite plausible I understood it in quite a different way.

Suppose you had a big shindig planned for tonight, yeah that word is so 80's, anyway, and for some unexplainable reason something comes up and you just won't be able to go to your party.

After having prepared, had your hair done, dressed up real fancy, you find yourself stuck at home. No friends, no contingencies, not even a line of coke.

There you are all dressed up and nowhere to go.

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