2) A derogatory term refering to cheap and/or promiscuous person or anyone else who exhibits dick bag like qualities.
Father : Not dressed like that, you can't. You look like a fuckin dick bag.
Someone who is 36 times worse than your average dick.
Kevin: A dickbag!
Mason: It's just what I've always wanted!
Matt: I fucked you dad.
Mason: You dickbag!
Person 2 : You douchebag
Person 1 : if you think im a douchebag, wait till you see what Person 3 did.
Person 3 : I took a dump on your sink thinking it was a toilet and i am not cleaning it.
Person 2: YOU DICKBAG!!!!!