Declaration made when a high five is missed, or the combo five is awkward, off, or just plain janky.
Ricky declared "Whitefive!" When he completely missed the high five, then botched the follow up dap, bap, "bones it", the "lock it in and put the chain on it".
A trip to a grocery store, convenience store, or gas station for the sole purpose of buying an excessive amount of junk food and sugary drinks, usually with friends. A chud run often happens late at night and ends with everyone involved hating themselves afterwards.