Chout can stand for several different things. "Check out", "Watch Out", or "Chill out" are the most common. In some circles, this is used as the dominant verb for everything.
Charles: "I think I'm completely broke."
John: "Chout yourself a job."
Bill: "I'm drunk as all hell.."
John: "Chout your life."
"Chout your face."
"Chout me a beer."
"Can I chout a ride home?"
