The act of jumping in the air whilst screaming, "BOOBSHAKALAKA!" and smacking a female's breasts with both hands, in the manner of dunking a basketball.
Bobby: So how was your date with Helga last night?
Jimmy: Well things got a little awkward when I gave her the boobshakalaka.
Bobby: Damn, that shit is wack!!!
This person can be either male or female. It's somebody that you know you can rely on. This is the person that you always break laws with and do stupid stuff with, but somehow you guys never get caught. Unlike a boo, you usually are just friends with this person. However, it can also apply to your significant other, as long as they are your best friend.
Boy: My boosharang Jake and I were spray painting a building, and these two cops came up and asked us for directions to the nearest donut shop. They didn't even notice the joints in our hands!