A gangster who rides on spinners, rims that rotate continously, even if the actual wheel is not turning. It is a portmanteau of the words 'spinners' and 'gangster'.
Joke
Me: whatchu you call a gangster who pimps his ride with them spinners?
Person: think....I don't know, tell me.
Me: A Spinster! Hah; funny, eh?
Person: Damn, that was the lamest joke I've ever heard
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