Green’s Dictionary of Slang

bungi n.

also bungie, bungy
[Hind. bhang, cannabis or Ndebele im-banje, marijuana. Coined at Rhodes University, Grahamstown]

(S.Afr.) a ‘drop-out’, a hippie n.2 (3)

Rhodeo (Rhodes Univ.) 19 Oct. 2: My life was ruined. I was no longer cool. Jogging’s hit the bungy scene [DSAE].
Rhodian 84-5 (Rhodes Univ.) 8: Two broad categories, familiarly known as the ‘bungies’ and the ‘rugger-buggers’ form distinct social apartheid on campus, and there is no love lost between them [...] Bungies are the flower-children of the 80’s [DSAE].
Rhodeo (Rhodes Univ.) Apr. 14: One student who asked why he was being searched, was given the reply ‘I don’t need an excuse to search a bungie’ by [...] the officer in question [DSAE].