Hanky panky can refer to two different things:

1. Sexual activity, especially when regarded as somewhat improper. It is a slang term that has been in use since the 1840s.

2. A brand of lingerie, sleepwear, and swimwear. Hanky Panky is a company that specializes in comfortable lace thongs, bralettes, and other lingerie items. They are known for their quality and sustainability.