1. Any thing including but not limited to; blanket, piece of paper or clothing or even the persons own arms, used in a feeble attempt to cover your self like a blanket when passed out on the floor of some random house, apt, alley, etc.. where you ended up in a drunken stuper.
2. Drinking mans version of a sleeping bag.
Look at Paulie passed out on the bathroom floor with a toilet paper Slumbag