hang is the act of drawing a gun, and bang would be firing the gun.
Man he better chill out before i 'hang and bang' his punk ass.
a term used to describe a relationship between 2 people in which you hang out and bang out, but are not dating.
"Is Harry your boyfriend?" -"No, he's my hang and bang." (or "No, we're just hang and bangs")
A suspended or inverted rollercoaster (especially a Vekoma Invertigo or SLC model) that is badly engineered, causing headbanging on the shoulder restraints.
"My ears hurt!"
"Well, that'll teach you not to ride Hang and Bangs, won't it?"