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To puke, vomit, regurgitate in a particularly nasty fashion - from cheap booze and poor food choices - that it reminds you of a homeless person.
I walked into the alley behind the office and stepped in a whole puddle of hobo salsa!

I found Mom floating in a pool of her own Hobo Salsa when I got home from school.
by The Entry Sisters February 01, 2007
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