An Abo's handbag refers to the plastic bag that is used to contain the cheap wine (goon) sold in cardboard boxes. The bag has a tap attached that can be pressed to release the wine.
Abo is slang for an Aborigine....the native race of Australia. Aborigines are considered alcoholics by many.
"My turn on the Goon mate, pass me the Abo's handbag".
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