A crossbreed between a tool and a douchebag. A toolbag would like the Black Eyed Peas, like a tool would, and Nickleback, like a douchebag would. They would also like Kid Rock, like both a tool and a douchebag would. Toolbag can also refer to someone who is beyond being just a tool.
That guy is totally a toolbag. He looks just like he got back from a Kid Rock concert.
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