Phantom Drinking
When you and/or your friends secretly get wasted in one end of your house while your parents and other adults, oblivious to the underage activity, reside in another. It's high risk but fun as hell when you can pull it off. Especially great when you have a big house and parents who listen when you tell them to stay away to avoid embarrassing you. Works very well in a sleepover situation. Pizza optional.
Last night me and some friends did some solid Phantom Drinking in my basement while my parents were upstairs eating dinner. Despite all of the noise and broken lamps they never came down and we partied harder than most people would at an open house.