In Colombia ,it can mean pennis though its more used to denote something either really cheap and / or low quality , or something fake :
" Mas chimbo que una moneda de cuero / more chimbo than a leather coin .."
" Nohh que reloj tan chimbo/ what a chimbo clock"
"Que carro tan chimbo / buhh! what a chimbo car "
Prices shown in USD.
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