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A worn out (usually) sock that can no longer be used for wearing purposes, and is now used as something for storage, mainly of small objects such as change. They can also be used as a beating instrument in some cases if nothing better is available.
Person 1: All my socks are wearing out, I finally had to go out to buy some new ones because I was running out.

Person 2: Too bad, I hate having to throw socks away.

Person 1: No, No, I didn't throw them away, I just threw some stuff in them and used them as storage socks.

Person 2: Oh.
by rippinblaise November 18, 2009
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