n. an erection. (Usually objectionable.) : He always gets a chubby when he doesn't need it and never when he does.
Dictionary of American Slang and Colloquial Expressions by Richard A. Spears.Fourth Edition. Copyright 2007. Published by McGraw Hill.
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Word Origin & History
chubby
1611, from chub (q.v.) the short, thick fish used as bait, used metaphorically for "lazy person" since 1558; perhaps influenced by O.N. kumba "log," kumben "stumpy."