Homieboo is both Homie and boo put together. meaning the person is extra special. they are both a boo and a homie. they are both my friend and lover. you are a homie and a boo.
Having a parent or parents who would rather you and your friends drink under their roof than outsidethe home where they can't supervise you or join in....
Made up word used by those who are trying to be quirky and inventive, by combining homie and bro. Rather than just using the normal words by themselves, they go out of their way to disrupt the flow of the conversation with this abomination.