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Known for people who sit on a chair for extended periods of time (hot climate?) without bathing, and/or fart alot and/or do not bath daily.
Eg; a gamer who plays BF2 for 12 hours straight and shits 2 times thereabouts while resuming gaming. When you scratch your nuts and it feels creamy then you got asscheese/bagcheese.
Remedy: = scrub yer taint and surrounding areas.
asscheese by Barrence June 30, 2006
Related Words

anus cheese

when a cow's utter spills milk inside your anus and you got butter all up in your butthole and you proceed to shake around, creating anus cheese.
Dude, a cow just spilled milk in my anus and i sat on a stick of butter. Im going to create anus cheese! who wants a sandwich?
A thick, greasy substance usually emitting an unpleasant ordor, comprised primarily of sweat and fart juice and found in the crack between the buttocks.
Damn, that asscheese left a racin' stripe in my drawers again!
asscheese by Steve January 6, 2003

analcheese 

is a gay mans yeast infection.

I have crusty analcheese on my cock.
or
I got analcheese from that guy last week.
Analcheese is the stincky yellow discharge from a gay whores ass.

WARNING: do not attempt to spread on crackers
analcheese by Sam79 August 6, 2007
Leftover sperm in your ass.
I feel asscheese from last night when I sit down.
supposedly cheese made from the milk squeezed from the asses of sweaty football guys. Wisconsin, anyone?
asscheese by Knee Byter October 20, 2003