1) A phrase used when something
disappoints you and or annoys you
to the point of almost swearing.
2) When referring to something obscene,
disgusting or just plain wrong; comes from but-less chaps
1) "You wanna know what really chaps my
leathers, this dang
rush hour traffic!"
OR
Friend: Hey dude I think that teacher failed you on purpose!
Me: Ya man he really chaps my leathers!
2) Friend: Dude I think
your moms hot!
Me: Uhh! That Chaps my leathers!