When young, horny, impoverished males want to score but refuse to spring the money for a condom. Instead, they strap an empty cheeto bag on their dick with a rubber band as a form of contraception.

Can also refer to taking a heedless risk that is easily preventable by expending minimal effort, such as moving a settler outside your cultural boarders in Civilization without a military escort.
"Baby aren't you gonna use a condom?"

"Nah, I got this cheeto bag here... Can you hand me that rubber band though?"

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Alan: "Ok settlers done and I'm moving him over to that plains hill"

Carl: "Wait do you have a warior to escort it?"

Alan: "Nah... Ima cheeto bag this guy... Itll be fiiiiiinnnnnee."

Lion: "Roar"

Alan: "Damn it"
by Mansa Musa September 10, 2010

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