Noun - Any Champage, sparkling wine, liqour, liquer, or unholy amalgum of two or more of the preceeding, produced under license of, endorsed by, or repeatedly referenced in the lyrics of any rapper and / or Hip Hop artist.
Chimpagne will often come in colors and neon tones not seen since the 80's, or anywhere outside of Chernobyl, Russia.
R. Kelley: Waitress! A bottle of your finest Alizé for this fine young bitch!
Young Bitch: Ewwwww nigga! I'd rather drink warm piss than that chimpagne!
R. Kelley: (menacingly) That can be arranged...
Lackey: Sir, the Q2 2010 numbers are in. We're bankrupt.
Frederick Rouzaud: Yeah? Well at least we're not making chimpagne anymore. Fucking Jay-Z...