Originally kobazz is borrowed and re-formed from the word "kobasica" (pernounced Co-bah-si-tzah). Kobasica is bolony ( on Serbian). Kobazz is a slang word from Serbia, means cock (as in penis).
Dude, you know that girl I was with last night?
-Yeah, what about her?
-Dude, she gave me one of the best blow-jobs ever!
-Yeah! She sucked my kobazz all night long... HOLLA!