1. Hanging out
2. Doing one's own thing
3. Slang to describe a situtation generally
So I was kicking the bobos, and then George and Ryan came over and we played some hot flaming Risk(TM) action. (Played a board game... i.e. had a good time hanging out)
John was kicking the bobos, and then his girlfriend came over; then they they proceded to watch a movie.
Jebediah was kicking the bobos on the levy, and this lynch mob came out of no where, thus there was a mighty pussiant high speed car chase as a result.