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A derogatory term for someone who's a real ass. Can be used in place of douche bag.
"Man that guy's such a gig bag."
gig bag by MisserJohnNoHome September 12, 2009
Related Words
Breasts belonging to a female rock n' roll artist.
Example 1:

Oh man, did you see Kim Gordon's gigbags at the show last night? Gaw...gawdaaaaamn.

Example 2:

Courtney Love's gigbags are for shit.
gigbags by Patrick Booterelli October 29, 2008