1. To take back something that was once bungled
2. To stop something that is in the process of being bungled
3. A word to use in the game "Ghost" when you're stuck and you've got nothing else to say with the letters "u,n,b,u,n,g and l", so you lie and pretend "unbungle" is a word
Matt: I made this terrible pass the other day
Little Matt: Oh yeah, what happened?
Matt: It was okay, I just managed to unbungle it before they scored
* High Five *