A word engineered to have no specific meaning or definition, often used in a derogatory manner in order to madden a chosen victim with ignorance. It is often the lack of a specific meaning that will drive the recipient insane, simply because it will render the insult into specifically what the victim does not want to be referred to as.
"Hey Chaungus, whats up?"
>"WHAT DOES THAT MEAN? STOP CALLING ME THAT!"
"Take a chill pill, you know exactly what it means, Chaungus."