It means anything you want it to mean.
"I will 'calaboot' your ass." (I will kick your ass, I will beat your ass, I will kiss your ass etc.)

"I am so calabooted right now." (I am so tired right now, I am so lit right now, I am so frustrated right now)
Calaboot Masterによって 2009年05月12日(火)

Words related to Calaboot

all anything everything whatever your choice of word