To hang upside down on a clothes line pole whilst consuming copious amounts of beer from a barrel via a tapper hose. Closely related to the keg stand.
My roommate is insane, he just did an 80-second monkey chug!!
I was going to do a keg stand, but I opted for a monkey chug instead because I wanted to impress the ladies with my drinking skills and appreciation for primates at the same time.
The act of hanging upside down and drinking an alcohol-containing substance at the same time.
Dude 1: "Dude, why you hanging there with a beer in you hand?"
Dude 2: "I'm preparing for the wicked act of monkey chugging."