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When somebody in a group that is smoking marijuana slobbers all over the mouth piece of the pipe.
*slobbers* AWWWW you banjo lipped the bowl!!!
by Mario C. August 06, 2006
Racial slur directed at blacks.

Comes from the common large size of their lips.
WHOA! You're one banjo lipped tree swinger! C'mon, let's play some tunes!
by Milk and Cereal July 08, 2004