Pancho’s Giveaway is a status state. It’s a metaphorical appellation given to unwilling LA County public school students by other very willing LA County public school students. Pancho’s has been in non-existence at least since the early 70’s; maybe even longer than that.
It’s supposed to be a real place, but as far as anyone has known it has never actually existed. Some kids claimed to have even been there, but they were lying. Even today if anyone ever tells you they’ve been there or tries to tell you how to get there, well, they’re lying too.