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Short for "colostomy bag" (the bag you shit into when your body can't do it normally). Douche bag has become severely overused, so when somebody is worse than a douche bag, they're a colostomy bag, a colobag.
Did you see that guy with 3 popped collars acting like he's the shit?

Yea, what colobag.
Colobag by KC Meat October 29, 2009
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Coobage Pooch Wooner

A penis that is extremely shriveled with flaps of skin bunched up around it making it look like a head of cabbage.
Is that guy smuggling vegetables in his pants? No, he's just got a coobage pooch wooner.
Coobage Pooch Wooner by Coobage February 11, 2010
Coolbags: Expression of acceptability or excellence synonymous with excellent, awesome, brilliant etc., when used in the same context.
Josh: I'm getting a new Lexicon reverb for the studio.
Paul: Coolbags! Can't wait to try it out.
Coolbags by HazenCatteneo March 31, 2011
A person everyone publicly despises, but personally enjoys hanging out with.
Joe Rogen is a total coolbag - a dick to most people, but kinda fun to hang out with anyway.
coolbag by manfred_spain December 21, 2008

cobobagone 

When a friend with her nickname Cobbob is missing
Has anyone seen Cobbob?

No mate he’s Cobobagone
cobobagone by Fuckpaulbell May 30, 2018
a term used to classify someone that tries to act cool but in no way can pull it off

a person who does foolish acts that in their minds may seem cool but in the eyes of everyone else is lame

a person similar to a tool or thinks they are "all that"
-"OMG, Angelika thinks she is cool!"
-"I know he is such a coolbag!"
coolbag by OOZE (Jessyie) November 7, 2009
An individual that everyone personally despises, but pretends to like; because they are somehow popular. See "Saud"
(in private place)
kid #1 - Yo, Justin is the biggest coolbag on the planet.

kid #2 - Dude, I know, right?

(in public place)
Kid #1 - Justin is the coolest kid in the world. He's totally hanging out with us sometime.
kid #2 - Oh, for sure. I love having that kid around.
Coolbag by argasfdga3 July 9, 2011