A Jumblefuck word coming from the definitions and combination of the two words relaxing and lagging; to lag, or put something off why chilling/relaxing at the same time. Relagging.
"Fuck Joe! You know those guys are waiting for that sack. You're fucking lagging!" "No Will, see this blunt in my hand? I ain't lagging, I'm relagging and it's much deserved."