To be unnecessarily proud about something. Usually accompanied by a big stupid smile, sometimes called an 'extend'a smile' often seen on Dennis Quaid's face during ghey movies.
Chalm: I just killed you at poker.
Damo: Don't be so quaid asshole.
In movies when someone is badly hurt or close to death and they hit the ground and convulse or seizure. The best bacon out is usually the result of a virus or disease and often accompanied by foaming at the mouth.
My favorite part in Terminator 2 was when that guy who invented the cybernetic hand was baconing out after being shot and was stillable to detonate the bombs.
TorontoBoy. Usually involves gel based hairdos and seemingly expensive clothes including leather (or pleather) jackets. Often seen outside clubs downtown with groups of other TBs dressed identical.
"The sidewalk outside your building was super packed with TBs waiting to get into that club."