This paper proposes a structural-functional approach to analyze modern slang usage in young middle class Anglo-, African-, and Mexican-Americans. This usage shows age-graded themes: between the age of eight and early adolescence, the main thematic character is to establish in- and out-group membership; from middle adolescence over the college years, the central theme is concerned with censuring bad personal judgment; between one's middle and late 20s, the major theme stimulates responsible performance in one's career.