The two-word Chinese phrase literally means 'vagina', and is commonly regarded as both derogatory and vulgar. It can be used as part of an English sentence in parts of Malaysia and Singapore.
"That chee bye took my cigarettes without asking." (Here it is used as a noun to describe a person whom you are trying to degrade. Similar to calling that person an 'asshole' or 'jerk'. )
"Hey chee bye! Long time no see!" (Similar to above, but used between friends in a casual manner. Much like "Hey dickhead! Where have you been?")
"Kan Nina Bu Chow Chee Bye! You want to pick a fight?" (Here it is used as part of a popular vulgarity which literally translates to 'screw your mother's stinking vagina'. This is a traditional vulgarity. Be careful as its usage is very provocative, and usually some heated argument will follow.)
also a vulgar version of a vagina, often used by hooligans (beng; lian) in a conversation.
ah beng: why?!
ah lian: he touch my cheebye lor!
ah beng: WAH! CHEEBYE!!!