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To completely and utterly flop. Usually refers to a music album. Whereas successful records can go gold or platinum, this term comes from the fact that wood is a far less valuable material.
"Peckerwood mad cuz his record went wood
No respect in the hood led to his 'Neck of the Woods'
Got in touch with his roots, found the redneck in his blood
And said, 'Heck, country western rap records are good'"
-Eminem, "Quitter" (Everlast diss track)

Tim: "Wassup gangsta!?!?!?"
Bill: "Dude, where'd you get that Porsche?"
Tim: "Oh, I took out a loan from this loan shark in Philly. Cost 45 Gs, mothafucka!"
Bill: "Um, that doesn't sound like a good idea. How are you going to pay for it?"
Tim: "Droppin' my new rap album next month, dogg. It's got some phat beats on it."
Bill: "Rap album? You're a white hick from Hummelstown. Who's going to take that seriously?"
Tim: "Don't make me blast my gat! Haha, just clownin'. Check out this sick beat:
(rapping)'Hummelstown, Hummelstown where we pummels down
Any punk ass mothafucka that come around'
Eminem or Jay-Z couldn't write shit that ill. Next time you see me it's gonna be on the red carpet with fly hoes on each arm."
Bill: "I don't know, man. I think you're going to go wood. You might be cruisin' for a bruisin'."
by Nicholas D August 30, 2012
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