The name hoboing is given to this because the homeless will turn their only clothing inside out when they need to appeal to people.
Willis: Because I was at Jeremy's house last night! Im covered in this shit, man!
Fredrick: That shit's crash, bro. But wait, you dont look like you did you have anything on you.
Willis: Thats because I've been hoboing my all my clothes today.
To Hobo it out, (or hoboing it out) is to leave someplace in a hurry while looking muddled and unprepared (like a hobo or bum.)
"Gabby, with a hand full of loose papers and her backpack still open, was hoboing it home."