In Colombia ,it can mean pennis though its more used to denote something either really cheap and / or low quality , or something fake :

" Mas chimbo que una moneda de cuero / more chimbo than a leather coin .."
" Nohh que reloj tan chimbo/ what a chimbo clock"
"Que carro tan chimbo / buhh! what a chimbo car "
by DonJuanK April 9, 2009
Latin term for lame or low value.
Ay! Que chimbo- Aw! That's lame.
No eso se ve chimbo- That looks bad quality.
by TOAGM April 23, 2010
In Colombia, chimbo means a man's penis. However, in Cali, both chimbo and chimba can mean the same thing, although in Medellin and other paisa sectors chimba means a woman's vagina.
Also chimbo can be used as a synonim of lame.
That girl walked closed to me and felt my chimbo. My chimbo itches. I'll do that if you grab my chimbo.
Don't be a chimbo. That guy had an extra pencil and didn't let me borrow it, what a chimbo.
by pimpollo June 18, 2007
a cheerleader and a bimbo. cheerleaders usually come as a chimbo.
god, that girl is such a chimbo, i wish i could shove her pom poms up her ass
by Sara February 12, 2003
it's just a man's name!! or it's short for chimborazo!
how is chimbo doing?
by mr.Chimbo January 16, 2011
A married or dating couple (man and woman) in which the man is a chode and the woman is a bimbo. Chimbos are fairly common due to their natural attraction to one another.
Those chimbos need to get over themselves already.
by travis rules February 2, 2011
a mix between a cheenis and a camle toe.
when a fat person has a cunt bumper and a vagina wedgie
by Anonymous April 29, 2003