potlatch

noun
  1. a ceremonial feast among certain Native American peoples of the Pacific Northwest, traditionally involving the giving away or destruction of property to display wealth and gain prestige
  2. Usage: anthropological term
  3. a social event or gathering involving abundant food and entertainment
  4. Usage: informal; extended use
verb
  1. to hold or participate in a potlatch ceremony
  2. Usage: anthropological term

Examples