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1.
Boung or boong (pronounced b-ouh-ng, with the ng sounding like the ng in 'ing')
Yet another example of the white fella's ability to make a random sound and turn it into a derogatory remark. Probably came about as an attempt to mimic one of the many Aboriginal languages (as in "chinese sounds like chingchogwaaafliedlice", "french sounds like ahahaweeweelebaggette",etc...).
Used throughout Australia, mostly by middle-aged to older/elderly Australians, in reference to any Aboriginal or Islander person; and occassionally in reference to other dark skinnned people (Maori, Fijian, Samoan, African) until the white speaker discovers that they aren't Aboriginal. Then they are immediately assumed to be a better class of non-white.
"I say, Meryl, did you see that a tribe of boungs has moved into the house down the street? Tell you what, they're really going to bring down the value of the neighbourhood, what with the fighting and drinking that those types get up to."
"Well I ran into the wife earlier today, John. They're not boungs, they're Samoans."
"Really? Oh well, that's a new kettle of fish altogether then. Samoans are such lovely, polite people."
by anonimouse December 18, 2006
 
2.
in Thai, it means something really cool, wicked and interesting
'man, thats so boung!'
by whateveruwanttocallme March 07, 2007