Term used to describe the Police coming, used primarily when partaking in illegal activity, such as a dice
game, or smoking
weed.
Yelling 'squalay' does not necessarily mean to run, it's totally situation dependant. If you're playing a dice
game, and someone yells 'squalay!', just pick up the dice and cool out, if you just did the armed robbery thing, you better get ghost.
Three young gentlemen are jumping someone, and trying to take his chain...
One of the three men sees the
cops before his
friends.
He says: 'Squalay!'
All three gentlemen
run, hopefully after acquiring the chain.