The larger variety of intervaginal meat folds.
Can be used as an adjective, noun, pronoun (see douchebag), or verb.
"Dude stop being such a fucking chaunt" -noun
"That asswipe is the King of Chaunt" -pronoun
"This chick needs to stop being so chaunty, or I might call Beauvice and run train on her" -adjective
"Fuck this, we just got chaunted" -verb