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1.
1. Getting loose and drinking booze or doing recreational drugs with your friends all night until the early morning.

2. The general act of "hanging out."
Yo Coleman, that was some awesome hangies last night, I totally saw that girls vag when she fell over wasted.
by Hangies69 August 07, 2009
 
2.
Traditionally, an authentic Australian-style barbecue held in a large yard where a full lamb is cooked underground. In more common usage, it is any gathering where friends get together for drinking, food, and all around good times.
Dude 1: I'm thinking about having a hangy this weekend.
Dude 2: Definitely! I've been waiting to chill out and eat some BBQ all week.
by HamiltonC0ll May 30, 2010
 
3.
Slang for a massive hangover
I know I'm gonna have a gnarly hangy tomorrow
by Tim Leavitt September 21, 2007
 
4.
The underbelly of a really fat cat. The part that hangs and flaps when they walk.
I love grabbing my cat's hangy whenn it runs by.
by usmgirrrl November 28, 2010
 
5.
the terd that is stuck on ur bunghole that u cant shake off, no mater how hard u try.
i finally had to wipe off this hangy i had last night
by U U July 11, 2006