Bilbo 

One of the main characters in J.R.R. Tolkien's 'The Hobbit'.
Bilbo Baggins is a hobbit who lives in the Shire in a town called Hobbiton. He leaves is lazy life to go on a quest for dragon's treasure, and he finds the One Ring of Power on the way. He eventually gives the ring to his nephew, Frodo Baggins.

Bilbo is a cool old Hobbit.

Bilbo by Ben February 22, 2005

Bilbo 

A hobbits sex toy.

The Hobbit put her batteries in her Bilbo, closed the bedroom door and wasn't seen again until the sun rose over the shire.

Bilbo by juan hunglow April 19, 2010

Bilbo 

To greedily grasp for the joint when it is shown to the Bilbo, usually accompanied by a fierce look in the eyes and raging desire. Similar to the scene from LoTR: The Fellowship of the Ring when Frodo shows Bilbo The Ring and he freaks-a-leak and goes for it.

Frodo - *Takes hit, about to pass*
Bilbo - HOLY SHIT! MY PRECIOUS!

* Bilboes for the weed*
Frodo - Woah, don't Bilbo the joint, bro.

Bilbo by King Rawrthur June 2, 2011

bilbo 

someone who totally fucks up, like in baseball when a ball is hit to the third baseman and he totally muffs the play

Tonight was supposed to be the best night of my life until this 80 year old woman ran over my sister, fucking BILBO!

bilbo by Sir Joseph Poon February 15, 2008

Bilbo 

An asshole with hair on the inside and covering it

I tried to screw her, but her bilbo had too much hair, and I couldn't get thru

Bilbo by The Beast April 25, 2005

bilbo 

For whatever reason, a bilbo became the name given to an individual who wasn't given much chance of survival during games of Advanced Dungeons & Dragons. For added humililation, the name was pronounced in a low voice with the emphasis on the O. Also used to designate an NPC who was clearly about to die in a poorly disguised plot twist.

"Oi, Bilbo! Just pop your head around that door and tell us if any orcs are there... oh, he's been shot in the head."

bilbo by Mr Ben April 22, 2005

Bilbo 

To raise one's legs in the air spread eagle and ask: "Gotcher bilbo?!?"

This must be done by a guy to another guy. It is considered pretty gay.

..."GOTCHER BILBO!?!?"

Oh man, I got bilboed so bad. I will never walk into a bilbo like that again.

Bilbo by Frilbo Fraggins March 24, 2009