To invent a new meaning for a slang word or phrase because you don't know the "real" meaning.
Person A: I don't know if she's gay or bi, but she's definatly a carpetbagger.
Person B: Dude, what do you think carpetbagger means?
Person A: It's... someone who sleeps with carpet-munchers...
Person B: Only in your slang-ventioned version.