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1.
When something is sickbag, it is beyond sick/ill to a new level of awesomeness. Usually used when something turns out in a fortuitous manner, or else when something is so brilliant that it must be proclaimed to the surrounding members of the group Originated deep in the heart of VT. Also see Kablamo
(If you win the lottery) "OH SICKBAG!"
(If you see a big explosion) "That was so Sickbag"
by J Murda April 22, 2005
 
2.
Where a person is sick in a bag, and then tries to sell it too people or may even trade sick bags. A way of purchasing or buying something if bankrupt or have no money.
"Sick in a bag, Sick .. in a bag anyone?"

"OMG! That Dude is actually tryin to sell sick!!!" ... "IN A BAG!??" "I'm confused man??" .. "You should be dude .. you should be".. "it's a sick bag". :)
by yo yo yo Manc July 12, 2010