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A Billy Wong is when a male's underwear "rides up" until you can see the outline of the males penis. This is only happens if the guy is wearing boxer briefs.
"Dude I need new underwear. These things give me Billy Wongs for days."
Billy Wong is an expression used to call someone names in front of their faces without them knowing.
Fyn: Bruh have you heard about Billy Wong?
Emi: Yeah, he's such a tard.