A burlap sack full of penises.
Person 1: Wow, that's a lot of penises you have there. How are you going to carry them?
Person 2: With this cockbag, of course. <shows burlap sack>
Any bag containing or being carried by Kanye West.
That man purse is the kind of cockbag that Kanye West would own.
I just killed Kanye West and I'm carrying him out of here in that black cockbag.