This term is most commonly reffered to the guy on the sidewalk off one of the exits out of a wal-mart parking lot. He carries with him a pathetic character, usually a dog, old clothes, a sack or backpack, and, lastly, a sign that sometimes has words spelled wrong, consisting of phrases such as Work for Money, Need Help (well duh!), or Need money for food (this is most common, and most likely means i need money to get alcohol or else i might sober and do something with my life). Most people, usually pass this person by, knowing he won't do anything but spend their money on beers at the tavern, and be back out on the sidewalk in a day or two. The real assholes just buy them food, and piss the homeless guy off.
I saw that Wal-Mart Homeless Guy out there again, and almost felt bad, but then i realized he has no motivation, and will buy drugs or alcohol, so I just decided to keep my money, and use it on things of accomplishment not pity.