5-0 - police officers.
24-7 - all the time, 24 hours a day, 7 days a week.
A
all that and then some - usually used when talking about a member of the opposite sex, he/she is everything that defines great and more.
all that and a bag of chips - very attractive, very fine, very cool.
awesome - great, really cool.
B
biters - people who copy from others.
brew - beer.
babe - a good looking girl.
busted - used when a teen gets caught doing something.
butter - something that is good.
C
crush - the person you really like, but they don't know it. "I was walking down the hall with my head down, and I smacked right into my crush!"
cruisin' - driving around town, with no real destination.
D
da bomb - means great, awesome.
daisy dukes - short shorts.
driveby - to drive in a car and check out a situation.
a do - a person's hair style.
dorky - Stupid.
down with - a kid who is 'down with' is high.
E
easy - asking someone to calm down, pronounced by saying the letters, E Z.
F
fave - Favorite, the best in their opinion.
fine- an attractive person.
flares - new term for bell bottom pants.
Flash! - as in NEWS FLASH!, which basically means you just said something really stupid.
Fly - Cool, used as an adjective, you would say, 'John's threads are fly.' but you wouldn't use this term alone, like you can with 'COOL!'.
G
girlfriend - used in greetings and conversation mostly between two girls, ie 'What's up, girlfriend?'
glam - glamorous, its a style, 'the glam look'.
grooviness - now instead of something being groovey, it is full of grooviness.
hello - used to get someones attention. If one says something stupid, the other says "HELLO, is anyone at home?"
Hecca & Hella - as in a hella good time. "Hell of a".
homeboy / homegirl - a friend.
Ho or hootchie - whore.
'hood - neighborhood, where you hang out.
hook up, hooked up - to be with a person romantically, to start dating. 'John hooked up with Sue on Saturday.'
Hoovering - getting an abortion.
K
Keepin it real - being serious, or an effort to be serious.
Kickin’ - hanging out with friends, or something was Kickin', which would mean something was great, as in 'That movie was kickin'.
Knocking boots - having sex.
N
no brainer - a thought or idea that can be comprehended even if the person has no brain.
P
pigs - police officers.
player - someone who is romantically involved with many people.
postal - means insane.
preps - kids that are really into school.
Phat - pronounced 'fat', means fine, cool, Pretty Hot And Tempting.
phat-phree - Something's that not phat, which means cool.
reeks - smells really bad.
rents - parents.
rock - is really good, 'Hanson rocks!'
rude boys - people who like ska bands.
S
skaters - skateboard types: long hair, long shorts, alternative T-shirts, music.
slacker - not someone who tries but can't do something, this person is a lazy type dumb.
spun - means Cool, used as an adjective, you would say, 'John's threads are spun.' but you wouldn't use this term alone, like you can with 'COOL!'.
T
'talking to' - the start of dating, a boy has dated a girl once and is still interested in dating her some more.
tight - means very close, based on relationships--best friends are tight.
totally - used to accent a word, something is not just cool, it's totally cool.
trashed - drunk.
trendies - kids that always are the first to try a popular item.
tripping - means on drugs. Not necessarily on drugs, it can mean that your acting like you should be on drugs.
W
Way - if something is cool, another teen will say "Way", meaning they agree, and then some.
Whatever - I one word answer to something they just don't want to talk about.
wingnut - not all there.
Word up! - What's going on?
parentingteens.about.com/cs/familylife/l/bldictionary.htm

Say What? A Glossary of Teen Slang

WebMD Feature from "Good Housekeeping" Magazine
by Patricia Greco
For confused parents, a guide to what your kids are really saying. But hurry...they'll be on to something new before you know it.
BF, GF (abbrs., boyfriend, girlfriend) "My friends and I use it online when we're talking about who's going out with who. It's faster-I wouldn't even think of typing the full word anymore."
-Michelle, 15, Stillwater, MN
BF4L (abbr., best friends for life) "It's how we sign off instant messenger. And we'll say it to clear things up if we've had a fight."
-Josie, 14, Carmel, CA
Busted (adj., ugly) "Sometimes I'll be walking down the hall and I'll hear someone say ‘Ew,
that girl's busted.' It's pretty mean, and people shouldn't say it."
-Danielle, 14, Louisville, KY
Cheddar (n., cash) "I've heard it said like, ‘I need some cheddar to buy this new video game.'"
-Kody, 12, Louisville, KY
Chillaxin (v., chillin' combined with relaxin') "My friends say it if I call them after sports practice to see what they're doing."
-Arielle, 16, Wrentham, MA
Crunk (adj., awesome) "My friends say it like, ‘Dude, you should have been there last night-it was crunk.' It may have started as a combination of crazy and drunk, but now we use it to describe any awesome time."
-Billy, 15, Westlake, OH
MOS, DOS, POS (abbrs., mom over shoulder, dad over shoulder, parent over shoulder) "Guys will type it if they're talking to a girlfriend online. Maybe they're embarrassed and don't want their parents to know."
-Will, 15, Charleston, SC
Emo (abbr., emotional. Originally a category of rock music, it now describes a dramatic person who listens to those songs.) "You're usually called it if you seem like the depressed type."
-Justine, 13, Colonia, NJ
G (n., friend) "It can be a funny way to say goodbye, like, ‘See ya later, G.' It's short for ‘homey G.'"
-Sydney, 13, Lawrence, KS
Home skillet (n., friend) "I've heard it said like, ‘Yo, what's up, home skillet?'" -Will
Money (adj., cool) "If someone shows you a new jacket and you like it, you can just say ‘Money.'"
-Sylvia, 15, Boston, MA
My bad (n., my mistake) "If I make a bad pass at ball practice, I'll say ‘My bad' to a teammate." -Scott, 16, Columbus, OH
Off the chain (adj., cool) "If there was a really fun party, people might say ‘Oh man, that party was off the chain.'"
-Scott
OMG (abbr., oh my God!)
"It started on instant messenger, but now we'll actually say it out loud. Like if you see someone acting weird, you might turn to a friend and say ‘OM-G!'"
-Delane, 15, Salem, OR
Rides (n., sneakers) "People say ‘Don't step on my rides' or ‘Check out my new rides.'"
-John, 13, Charleston, SC
Tope (adj., cool) "It's a mixture of the words tight and dope, which both mean ‘cool.'" -Sylvia
Wanksta (n., a person who tries to act tough) "It was in a rap song-that's how people caught on to it. You can say it to call a person out for trying to be cool."
-Chris, 12, Arlington, TX