English slang

lang in Britain and USA.
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Development
Definite of slang
Slang is the use of highly informal words and expressions that are not considered standard in the speaker's dialect or language.
Defining slang
Few linguists have endeavored to clearly define what constitutes slang. Attempting to remedy this, Bethany K. Dumas and Jonathan Lighter argue that an expression should be considered "true slang" if it meets at least two of the following criteria:
It lowers, if temporarily, "the dignity of formal or serious speech or writing"; in other words, it is likely to be seen in such contexts as a "glaring misuse of register." 
Its use implies that the user is familiar with whatever is referred to, or with a group of people who are familiar with it and use the term. 
"It is a taboo term in ordinary discourse with people of a higher social status or greater responsibility." 
It replaces "a well-known conventional synonym." This is done primarily to avoid "the discomfort caused by the conventional item [or by] further elaboration. 
An example would be "getting a pop, meaning getting a haircut, or buying threads as in buying clothes." Slang should be distinguished from jargon, which is the technical vocabulary of a particular profession. Jargon, like many examples of slang, may be used to exclude non–group members from the conversation, but in general has the function of allowing its users to talk precisely about technical issues in a given field.
Extent and origins of slang
Slang can be regional, in that it is used only in a particular territory, but slang terms often are particular to a certain subculture, such as music. Nevertheless, slang expressions can spread outside their original areas to become commonly used, like "cool" and "jive." While some words eventually lose their status as slang (the word "mob", for example, began as a slang shortening of Latin mobile vulgus), others continue to be considered as such by most speakers. When slang spreads beyond the group or subculture that originally uses it, its original users often replace it with other, less-recognized terms to maintain group identity. One use of slang is to circumvent social taboos, as mainstream language tends to shy away from evoking certain realities. For this reason, slang vocabularies are particularly rich in certain domains, such as violence, crime, drugs, and sex. Alternatively, slang can grow out of mere familiarity with the things described. Among Californian wine connoisseurs, for example, Cabernet Sauvignon is often known as "Cab Sav," Chardonnay as "Chard" and so on; this means that naming the different wines expends less superfluous effort.
Even within a single language community, slang tends to vary widely across social, ethnic, economic, and geographic strata. Slang may fall into disuse over time; sometimes, however, it grows more and more common until it becomes the dominant way of saying something, at which time it usually comes to be regarded as mainstream, acceptable language (e.g. the Spanish word caballo), although in the case of taboo words there may be no expression that is considered mainstream or acceptable. Numerous slang terms pass into informal mainstream speech, and sometimes into formal speech, though this may involve a change in meaning or usage.
Slang very often involves the creation of novel meanings for existing words. It is common for such novel meanings to diverge significantly from the standard meaning. Thus, "cool" and "hot" can both mean "very good," "impressive," or "good-looking".
Slang terms are often known only within a clique or ingroup. For example, Leet ("Leetspeak" or "1337") originally was popular only among certain Internet subcultures, such as crackers (malicious "hackers") and online videogamers. During the 1990s, and into the early 21st century, however, Leet became increasingly more commonplace on the Internet, and it has spread outside Internet-based communication and into spoken languages. Other types of slang include SMS language used on mobile phones, and "chatspeak," (e.g., "LOL," an acronym
meaning "laughing out loud" or "laugh out loud" or ROFL, rolling on the floor laughing), which is widely used in instant messaging on the Internet.
Varieties of slang
Rhyming slang
Rhyming slang, chiefly associated with Cockney#Cockney speech spoken in the East End of London, replaces a word with a phrase which rhymes with the word, for example, plates of meat for "feet", or twist and twirl for "girl". Often only the first word is used, so plates and twist by themselves become the colloquialisms for "feet" and "girl".
Back slang
Back slang is simply the practice of using words spelled in reverse, e.g. yob for "boy" or ecilop for "police".
Polari
Polari is a variety of slang used by gay men and lesbians in Britain and the United Kingdom, which has a history going back at least a hundred years.
Definitions
arse bandit, bender, bent, bum bandit, fairy, marmite miner, pillow biter, poof/poofter, ring raider, shirtlifter, shit stabber, turd burglar, uphill gardner  
homosexual (offensive, derogatory) 
barney/in barney  
trouble/in trouble (from Barney Rubble, Cockney rhyming slang for trouble) 
bell/bell-end  
glans of the penis or fool 
berk  
idiot, irritating person (from Berkeley Hunt, Cockney rhyming slang for cunt) 
Billy  
amphetamines. (From Billy Whizz, a British comic strip character.) friendless (Billy No-Mates) 
Bobby, Old Bill, Plod, 5-Oh, Rozzers, Bizzie (Scouse),Dibbles (as in Officer Dibble from Top Cat), The Scum, The Filth  
police, police officer 
blagger  
Liar or Robber. Also 'Blag' is 'lie to' or 'rob' someone. Also somebody who boasts a lot. 
bloke, chap, geezer  
Man (informal) 
blooming  
euphemism for bloody 
bog  
toilet 
bog off  
Go away 
bog roll  
Toilet paper 
bird  
girl 
brown bread  
dead 
Bugger  
Anal sex, an exclamation of dissatisfaction ("OH BUGGER!"), in a dire situation ("Well, we're buggered now"), acute surprise 
Bum   
The Buttocks, The Anus or Both. 
chav, ned, bam, scally  
A person who dresses in a certain style, typically badly or in sports clothing. Often used as a form of derogation. 
Cheers  
Thank you or goodbye 
Cock  
An idiot 
Duff  
Doesn't work "these batteries are duff" or beat "let's duff him up" 
Fag  
Cigarette 
Fanny  
Female external genitalia 
Fit  
Sexually Attractive 
gaff  
house 
gash  
derogatory term used for females or the female genitalia 
gay  
bad e.g. "It was 'gay' being mugged" 
git, bell-end, knob-end  
incompetent, stupid, annoying, or childish person 
Gob  
Mouth; to spit 
Gobsmacked  
Flabbergasted, dumbfounded, astounded, speechless 
Half-Inch  
To Steal 
Helmet  
'Glans of the Penis' or 'fool' 
handbags  
a harmless fight 
Ickle  
Small 
I('ll) say  
expression of surprise, amazement (quaint) 
Jack, Raise  
Steal 
jammy  
lucky. (also 'spawny') 
Jizz  
Semen 
Kip  
Sleep, Nap 
knackered  
exhausted, tired 
Knob head  
a stupid, irritating person 
Knob jockey  
homosexual (to ride the penis like a jockey rides a horse) 
Fruitbat, Spazmo  
idiot 
Loo  
Lavatory 
Manc  
someone from Manchester 
Manky  
Dirty, filthy 
Mashed  
Drunk 
Meat and Two Veg  
male external genitalia 
Minge  
Vagina 
Minger  
Ugly or filthy-minded person 
Minted  
Wealthy 
Munter   
Ugly person 
Nick  
Steal or Police Station "He's in the 'Nick'" 
Nicked  
Arrested or Stolen i.e. "He got 'Nicked' after he'd 'Nicked' that Car" 
Nonce  
Paedophile or idiot 
Nutter  
Insane person 
pig pen  
police station 
pikey  
is a pejorative slang term used, mainly in England to refer to travellers, gypsies or people of low social class 
Pillock  
Someone who is stupid 
Pinch   
Steal 
Pissed  
Drunk 
ponce  
pimp; a posh, effeminate man. 
Ring, ring piece  
Anal Sphincter 
Safe  
Good, Agreed 
See A Man About A Dog  
Attend a secret deal or meeting or to go to the toilet. 
Scouser  
Someone from Liverpool 
Scrote  
Scrotum or pestilent child or teenager.
Shag  
Have sex with 
Shiner  
Black Eye or Erection 
Skint  
without money 
Skanked  
Ripped-off, daylight robbery, expensive 
Skanky  
vile 
Slag, Slapper, Tart, Scrubber  
Prostitute, Loose woman 
Slash  
urinate, urination 
snog  
French kiss 
Sod  
idiot, moron, or annoying person (from sodomite) 
Sod off  
go away, i.e. fuck off. 
Steaming  
Extremely Drunk 
Stuffed  
sexual intercourse (e.g. "Get Stuffed") or to have had too much to eat ("I'm stuffed") 
spawny  
lucky 
spunk  
semen, ejaculate 
Take the piss (out of)  
To mock, "Are you taking the piss?" 
Tosser  
Literally someone who masturbates (to toss off), but generally means an idiot or someone whom the speaker doesn't like 
twat  
Female genitalia or an idiot 
wank  
masturbation 
wanker  
Literally someone who masturbates (verb - to wank), but generally means an idiot or someone whom the speaker doesn't like.
Whizz  
Amphetamines. See also 'Billy' or the need to urinate i.e "i'm just off for a quick whizz"
Conclusion
To sum up, slang is widespread phenomenon in english, but, despite its pervasiveness, it has been marginalized or neglected in linguistics. It exhabit the same word-formation mechannismsas the standard language. In others words, its the result of well-established grammatical rules and out side regular grammar. In slang interally organized in the terms of semantic relation anh lexical fields, it is rather disorganized, complex lexicon made up of vague words and polysemous expression. In to attemp to describe slang. There is a general tendency to streat it as a merely social concept reinfocing cohesiveness within a group ,or as a lever of usage stylistically neutral language. 
References