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1.
slang for jacking off, jerking off, masturbating, or what ever the hell they call it these days...; called this because of the repeated up and down motions
Guy 1 "Last night I was shredding the cheese so much that my hands were covered in that nasty crap that comes out!"

Guy 2 "Why did you jack off so much?"

Guy 1 "What the hell are you talkin' about, crakka?"

Guy 2 "Ohh, I had the wrong impression..."

Guy 1 "Dude, ur such a fagbag, go suck a toe!"

Guy 2 "WTF?"

Guy 1 "Jacking off is illegal, I would never break the law!"

Guy 2 "No its not! Its only illegal on an airplane!"

Guy 1 {guy 1 unzips pants and begins jerkin right in front of him}

Guy 2 "You were callin me the faggot!"
by da_urb@n_l3g3nd March 27, 2010
21 1
 
2.
To cut the cheese many small times in rapid repitition.
Homey ate somethin' whack and is now shredding the cheese like Machine Gun Kelly in my Benzo!
by jWhBOT January 11, 2009
3 10