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1.
When skateboarders play a game called "S.K.A.T.E" they use this term as another word for "rock, paper, scissors" to decide who will go first.
skater 1: "ok let's bro shambo!"
skater 2: "ok, rock, paper, scissors!"
skater 1: "damnit!!" "you win!!"
by Man With Board April 21, 2010
 
2.
Noun. Derived from "Roshambo" (paper, rock, scissors). An intricate form of friendly greeting, originating from the African-American community, which involves a complex series of high fives, hand shakes and signals.
Having not seen eachother for quite some time, Rick James & Eddie Murphy's brother greeted with a warm hug and an extended round of broshambo.
by nabbott June 03, 2009