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1.
Running down a steep grade at the edge of control. Generally, the codyer is yelling "Cody!"
We were just hiking along like normal people when he suddenly went codying down the hill.
by Hustle Man May 29, 2011
 
2.
When someone fucks up in any way shape or form.
A prime example of using Codying is - "Dude last night Hunter totally pulled a Cody."
by COOHKIEZ August 24, 2012