(n)-Used to describe any sort of deeply embarrassing life-affecting truth or habit that one attempts to keep secret. In a literal sense, it refers to one keeping a bag of one's hair, toe nail clippings, or other strange items over a long time.
Boyfriend: "By the way, I've been meaning to tell you something, and I'm not sure how you'll take to it..."
Girlfriend: "Oh boy, here comes the bag of hair..."
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