to waste time, to loiter.
My friends and I hang around at the corner bar.
A "hang around" is the first of various levels of membership in the Hells Angels biker gang.
A hang around is described as friendly to the organization but is not an actual member yet. They typically go to parties, buy the t-shirts and try to make contacts within the organization to help boost their membership level. Hang arounds also ride with the group whenever there is a ride but otherwise they don't get involved in the organization; they never hold offices within the group and they typically do not participate in extreme group activities such as retaliation or gun trafficking.
Matt's become a hang around after he met a small Hells Angels group at the bar last month.