Can be anything ghetto, but usually something that higher-class people can afford but broke themselves.
As I pointed to my locker, I exclaimed, "Look at this ghetto piece."

I pointed to the Reggin's doo-rag, and whispered to my friends, "Look at that Reggin's ghetto piece covering his afro."

"LEEEEEEEEEEEROY JENKINS!" That video is a ghetto piece.
by Leeroy Jenkins June 8, 2005
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