A storytelling party is a moment in time. It is a moment that embraces the ancient art of traditional storytelling in a contemporary setting.
I like to think of storytelling parties as akin to happenings. A storytelling party is pre-planned and yet allows for the spontaneity of the art form.
The nuts and bolts of it: 1) You invite fifteen to twenty friends and acquaintances to a specific location (e.g. your home), 2) in advance of the event, you ask three or four of those people tell a story on a specific, pre-determined theme (e.g. stories of summertime), 3) you throw a party. The atmosphere should be relaxed, the food and drink should be readily available and the audience should be willing listeners.