Gangsta Pants. Usually worn low so the crotch is between the actual crotch and their knees. Usually half or more of their boxers will be showing. It also makes the wearers legs look short as hell.
Gansta #1: Hey man, Did you see Tyler? He's wearin' his Gee Pees so low he can barely walk.
Gansta #2: Yeah, dat fool think he looks fly. Lets go kick his bitch ass.