1) A phrase used when something disappoints you and or annoys you to the point of almost swearing.

2) When referring to something obscene, disgusting or just plain wrong; comes from but-less chaps
1) "You wanna know what really chaps my leathers, this dang rush hour traffic!"

OR
Friend: Hey dude I think that teacher failed you on purpose!
Me: Ya man he really chaps my leathers!

2) Friend: Dude I think your moms hot!
Me: Uhh! That Chaps my leathers!
by Everything Will Be Deefine February 10, 2011
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