A combination of the words caboose and booty, a noticably large and round ass that is generally attractive. Also refers to the display of such an asset through clothing or behavior.
Wow, that's quite a cabooty, looks like she's got melons under there.
or
Girl, those are cabooty pants, where you going tonight?
or
Girl, those are cabooty pants, where you going tonight?
by Karen January 20, 2004