Derived from "Chimango Caracara" an overly aggressive and abundant species of bird of prey found in Argentina, Brazil, Chile, Paraguay and Uruguay. "Chimango" refers to somebody who is a trend follower and has an incredibly bad taste for music, food, clothes, art, etc.
Lame guy: "The new nickelback CD rocks! Got an Chad Kroeger autographed copy at Hot Topic!"
Cool guy: "Dude, you are such a fucking chimango!"