Meaning of the word "bottoms up" in English

What does "bottoms up" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

bottoms up

US /ˈbɑt.əmz ʌp/
UK /ˈbɒt.əmz ʌp/

Exclamation

a toast said before drinking an alcoholic beverage, meaning to drink it all

Example:
Come on everyone, bottoms up!
He raised his glass and shouted, "Bottoms up!"