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1.
A combination of the words 'chach' or 'chachi' and 'homo' or 'homosexual'. Please see definitions for chach and homo accordingly.
Frank had pink flames painted on his car? He's such a chachmo!
by The Mexican Hat Dance June 05, 2009
 
2.
it is anything you want it to be

but preferably worse than a chach which pretty much is a deusche troph.
What a chachmo....

Ron is a chachmo
by Jas Tran January 22, 2007