This is an acronym for the phrase "Crazy Ass Bitched Out" or CABO.
This term is used to imply that one's significant other is acting like a "crazy-ass bitch" without actually saying so directly. Using the acronym, and avoiding declaring this outright, allows those who know the word to understand without risking another person overhearing and then going CABO over the comment. After all, who wants to explain a freak-out?
The phrase has morphed from "She's gone CABO on me", to "she's gone to CABO," to simply CABO. It is gaining traction in Charlotte and the Southeast, yet it's application is damn near unlimited by sex or geography.
You're out to dinner with a friend and notice his girl is not talking to him. She leaves to go powder your nose and you ask "what's up with her?" and your friend replies "She'sgone CABO on me." You nod knowingly and with great sympathy. "My wife's been there, dude" you say in response. Those overhearing just think your discussing vacations.
You're at a party. Your buds ask "Where's Jill?" You reply "She's gone to CABO. Couldn't make it" Everyone nods.
You want to stay at the party, your squeeze wants to leave and throws a major snark fit. You shrug your shoulders and say "CABO." Your friends understand you need to go.
Curtis Alumni Basketball Organization: A very hip and influencial group of men who by day...we work normal jobs, but by night...we fight crime and play basketball. -The Commish
What they are saying: I wish I could join the CABO...they are so cool. The CABO has been a pillar of our community.