There are two different meanings for the term "Champagne confetti" depending on the context:

1. In a sexual context, "Champagne confetti" is a slang term used to describe female ejaculation. The comparison is made because of the way champagne sprays out when a bottle is opened, resembling the release of bodily fluids during an orgasm.

2. In a party context, "Champagne confetti" refers to a type of confetti that is designed to look like a black and gold champagne bottle with colorful confetti designs and a "Celebrate!" headline. It is a confetti popper that can be used to celebrate special occasions such as New Years or birthdays. To use it, one simply pierces the top of the bottle and twists the bottom to shoot the colorful foil confetti.