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1.
In the south Indian language of Tamil, thambi means "little brother".

Can be used to call a friend (as a replacement for "bro" or "dude" or the friend's name).
Older brother/sister: "Thambi hurry up! You need to go to school!"

Thambi: "*groans* I don't wanna go to school..."

2nd example:

Friend 1: "Wassup thambi?"

Friend 2: "Wat up dude?"
by HK February 10, 2005
 
2.
The strip of skin between the base of your testicles and the opening of your anus.
I had an itchy thambi.
by Scott July 19, 2004