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1.
(kay-chan)

A representation of a diseased phallus.

Coined in the 17th century by a Chinese philosopher Wang-Kock, the Kchan was an illustrious example of what a penis shouldn't be. It was the metaphorical symbol used to indirectly describe a lack of manhood, a huge degree of promiscuity, and an unfortunate creation of evolution gone wrong.

It is now used to describe someone or something who most likely has a diseased phallus.
Man, I really thought that sex with Katherine's mom was going to be good last night, but now I have a kchan. This sucks.

Holy shit, I blacked out last night and now I'm a kchan!

by TheFiero September 26, 2005
 
2.
a nickname for a close friend whose name starts with a K. often female. often used between friends that enjoy japanese-oriented things like anime/manga. sort of like saying K-town.
K-chan, do you think he likes me?
K-CHAN! KONNICHIWA!! HOW ARE YOU??
by Sarah Riddle January 17, 2009