(Noun)- The act of placing a caller on hold by poorly covering the phone's receiver or simply setting the handset on your desk, usually followed by yelling the name of the caller across the room.
Hobo Hold often results in the caller hearing something insulting/offensive said about them by the individual they are trying to reach.
Especially prevalent in sketchy offices and restaurants.
Tom: "Hey did you get ahold of Tony?"
Bob: "No. When I called, his secretary put me on Hobo Hold and I could hear him yelling in the background before she told me he wasn't available."
Tom: "What an dick move"