One of the main characters in J.R.R. Tolkien's 'The Hobbit'.
Bilbo Baggins is a hobbit who lives in the Shire in a town called Hobbiton. He leaves is lazy life to go on a quest for dragon's treasure, and he finds the One Ring of Power on the way. He eventually gives the ring to his nephew, Frodo Baggins.
Bilbo is a cool old Hobbit.
by Ben February 22, 2005
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The Hobbit put her batteries in her Bilbo, closed the bedroom door and wasn't seen again until the sun rose over the shire.
by juan hunglow April 19, 2010
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To greedily grasp for the joint when it is shown to the Bilbo, usually accompanied by a fierce look in the eyes and raging desire. Similar to the scene from LoTR: The Fellowship of the Ring when Frodo shows Bilbo The Ring and he freaks-a-leak and goes for it.
Frodo - *Takes hit, about to pass*
Bilbo - HOLY SHIT! MY PRECIOUS!

* Bilboes for the weed*
Frodo - Woah, don't Bilbo the joint, bro.
by King Rawrthur May 8, 2011
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An asshole with hair on the inside and covering it
I tried to screw her, but her bilbo had too much hair, and I couldn't get thru
by The Beast April 25, 2005
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To raise one's legs in the air spread eagle and ask: "Gotcher bilbo?!?"

This must be done by a guy to another guy. It is considered pretty gay.
..."GOTCHER BILBO!?!?"

Oh man, I got bilboed so bad. I will never walk into a bilbo like that again.
by Frilbo Fraggins November 7, 2008
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Gross man, i found a bilbo out in the alley behind your house.
by Bradland May 16, 2010
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Used for the word dildo but only ever used by gays or prudes, but never hardcore lezzes as they have shaved heads and GI in front of their name, therefore obviously not a virgin. They are also confused with German Women
Gay:Can we get a, y'know a Bilbo
by AshMaHomieHater February 21, 2005
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