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The phrase is used when describing someone lower in status or age. It should be used when giving orders to youngbloods or other people you feel are beneath and used in a comical way.
Yo chung bol, roll something up, pussy.

Grab me a natty light, chung bol.

Whats good, chung ass bol?

He is such a chung bol cause he never packs up the bong.
by Merve February 15, 2008
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