This is a phrase commonly used by construction workers and contractors as a helpful reminder not to leave hardware on the ground or any other place where it could potentially harm unsuspecting co-workers. The same goes for your penis.
"Hey John. Don't leave your penis on the ground. B kool bag your tool. And don't leave that saw on the ladder either."
Invented by a man known only by the name Bretzky, this is the method of taking a bong rip and holding it in your lungs while you consume a full beer and then exhailing only after the whole beer is finished.
Here's the beer and here's the bong. Now do a motherfucking fandangler, dummy.