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A pair of breasts. The term was used by the character Louie De Palma (played by Danny DeVito) in the sitcom Taxi.

Louie De Palma: I hope you don't mind me saying this, but your mother is a very attractive woman. She's got some nice bagonzas.
Kid: What are bagonzas?
Louie De Palma: How old are you?
Kid: Twelve.
Louie De Palma: Bagonzas are feet.
The gal's bagonzas are spilling out of her t-shirt!
by Just Call Me Al April 18, 2011
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