A word that can replace any other word when a person cannot remember what they wanted to say. Usually in a context where the second party in which you are speaking with assumes they know what you are talking about.
Yesterday I went to....uh....you know,..Schumbo.
Dude, so yesterday when I was with that girl, we totally schumboed.
Person 1: Where is my binder that you borrowed?
Person 2: Oh ya, it's over.....schumbo.