The term "homeboy" derrives from "homie", and each of those terms have been shortened down overtime as "homes", or sometimes spelled "holmes". The term was started by
Mexican-Americans living in the
barrios of Los Angeles, most commonly said in
East Los Angeles. The term refers to friends/companions living in the same neigborhood as eachother. Which is why "HOME" is started before boy, thus creating "homeboy".
Person 1: Aye
whats happening homeboy?
Person 2: nothing just chilling, you?
Person 1: about to go
to Rob's house...
Person 2: who that? is he a homeboy?
Person 1: Nah... just some foo i kick it with from
Grape Street.