Can be a verb or adjective.
a) to slouch around wearing scruffy leather jackets and bluntstones, looking incredibly mangy, untidy and unkept.
b) to smoke a copious amount of marijuana.
Adjective: can describe anything, however usually describes someone or some action of the know-it-all, douche-bagish nature.
Verb: "i woke up late and satchel'd around Queen street yesterday"
"lets satchel it up"
Adjective: "wow that was a satchel move, man"