(verb) The act of backing away from a ground ball while looking away, closing your eyes and sweeping your glove out to your sides in hopes to field the ball.
In Brazil, "parangolé" as a slang word, refers to a non sense conversation, something that is not interesting, a vague reference to a subject or topic. The true meaning is about a kind of dressing ornament, like a cape.
- Hey buddy, don't come with this "parangolé"! I don't want to talk about it..
OR
- You know nothing, this is another "parangolé"!