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The process of chillin with friends or girls with your penis hanging out of your zipper.
"You comin over?"
"Yea, lets hang out with our wang out"
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It is a gay sex move created by Evan Luft used on Brett Mitchell.
"ziiiiiiiiiiiiipppppp" "now look closely Brett well, maybe u'll neeed that magnifying glass to see it but i just RIPPED OUT THE WANG!"
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Not showing up to a meeting.
Breaking plans at the last minute.
What the person who stood you up did.
We were all suppose to go to the beach but Joe wanged out at the last min.
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In a pickup game of football amongst friends, the better of the two teams is known as Team Hang Out With Your Wang Out. The other team is then relegated the name Team Rock Out With Your Cock Out, which is not bad either, but not quite as good.
"Alright, we got Andy AND W, plus Phil. I decree us Team Hang Out With Your Wang Out. Ya'll can be Team Rock Out With Your Cock Out. We get ball first."
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Where people that have the desire to keep there pants on, but hang there dicks out of their pants, like to hang out.
Stiffler: "I just want to hang out with my wang out, I just want to rock out with my cock out."
Hey, I heard there's gonna be a big wang out hang out in Jess and Jen's room tonight.
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Another version of rock out with your cock out.
Dude 1: Hey Marv! Are you going to hangout with your wang out at the sauna evening with those crazy Finnish dudes?
Dude 2: Yeah, I'm going to rock out with my cock out!
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wang out you wanging out or what why are you acting so ?