Home
cheese is synonymous with homie, home
boy, home skillet, home slice and the seldom referenced home piece. All of these expressions are terms of endearment--in an urban context--and are meant to demonstrate affection and either familiarity or at least a similarity of circumstances. Home
cheese dates from at least the late 1980s' early hip hop scene. It, along with home skillet was usually said in a somewhat ironic manner, i.e. it was purposely absurd.