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1.
can be used interchangeably in a variety of circumstances, usually as a proclamation or exclamation of excitement at witnessing something of value or quality.

May also be used when when experiencing pain (physical or emotional), anger, intoxication, or being under the influence of drugs.

Originated from the mock slang of middle class midwestern 20'somethings.
1) Upon seeing an attractive woman:

" Damn is her bag ripped!"

2) Expressing a level of intoxication:

person a) " man how much did you drink?"
person b) "I dunno man, but my bag is RIPPED!"
by Clint B. August 26, 2007
 
2.
can be used interchangeably in a variety of circumstances, usually as a proclamation or exclamation of excitement at witnessing something of value or quality.

May also be used when when experiencing pain (physical or emotional), anger, intoxication, or being under the influence of drugs.
1) Upon seeing an attractive woman:

" Damn yo, her bag is ripped!"

2) upon injuring ones self:

Person a) " hey man are you ok?"
Person b) *in agony* " Nah man my bag is ripped!"

Variation- Upon seeing someone else in pain, i.e if one were to biff it on a skateboard:

"Ah man did you see that dude get his bag ripped?!"

(Particularly applicable when a crotch shot is witnessed)

3) upon experiencing anger:

person a) " I am gonna kill that dude..."
person b) " come-on man, calm down, don't get your bag all ripped..."

4) upon intoxicaion:

person a) " man how much did you drink?"
person b) "I dunno man, but my bag is RIPPED!"
by Clint B. July 16, 2007