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Something that is amazeballs and just totally awesome. Can relate to anything in ones life. It just describes the pure happiness and excitement one is feeling!
"OH EM GEE. That concert was bajangjang!"

"Wow, I really like your shoes...they are quite bajangjang!"
by Helensternator February 05, 2010
A penis.
Jenifer: Oh my god, that man's ba jang jang is sticking out!
by Dranseb July 10, 2008