A light-hearted term of chastisement, usually only used among close friends, to refer to someone who is perceived to have been rude or to have taken a liberty. Use of the term usually doesn't indicate real anger, and isn't intended to cause great offence.
1. John takes a sip of Fred's beverage.
"Oi you cheeky cunt, buy your own drink!" says Fred.

2. "Hey Fred, could I get seconds on that spliff?" asks John.
"Don't be a cheeky cunt, wait until it gets passed to you!" replies Fred.

3. "Fucking hell John, I never thought YOU would be able to get with such a fit girl!" exclaims Fred, in disbelief.
"Cheeky cunt!" replies John.
by cheeky_cunt January 28, 2011

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