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Short for "colostomy bag" (the bag you shit into when your body can't do it normally). Douche bag has become severely overused, so when somebody is worse than a douche bag, they're a colostomy bag, a colobag.
Did you see that guy with 3 popped collars acting like he's the shit?

Yea, what colobag.
by KC Meat October 29, 2009
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