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Bacci hanging out the tin 

When you can see pubic hair flourishing from the seems of ones under garments/pants/knickers/boxers.
Guy: Fuckin hell love, look at that bacci hanging out the tin.

Girl: I know darling, I need a shave.

hanging out my shingle 

When a professional (especially a lawyer), rather than looking for a job, just goes and finds clients. This takes guts and a willingness to work constantly for precious little money in exchange for autonomy.
Law student 1: Hey, you made top 10%. I bet you could get that $160,000 opening at Rob, Ewe, and Howe!

Law student 2: Fuck those guys. I don't want to kiss ass for the next 20 years. I'm hanging out my shingle.

Hanging out of my arse

"Mate, i feel so rough, I am hanging out of my arse"
Hanging out of my arse by jenm December 4, 2004

Hanging out with Howard Finkel 

Brian: Oh yeah!
Shane: What are you doing, Brian?

Brian: I'm hanging out with Howard Finkel.

hanging out 

to socialize with your friends, whether it is of your choosing or not; most of the time the term is uesd to refer to a type of fun.
me n chip were hanging out.

Hanging out of my arse

Severely hungover; dying of a hangover
"How are you feeling this morning? Was a heavy night last night wasn't it?!", "You're telling me mate, I'm hanging out of my arse!".