Freebagging is when you are playing Halo and someonekills an opponent and Teabags the dead body and you join in. You didn't make the kill but you join in the Teabag anyway. Freebagging!
My friend just go a dirty Halo sniper shot and was tea bagging the dead body and went in for a freebagging session.
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.