confab vs chin wag

confab and chin wag both are nouns.

Word	Noun	Adjective	Verb	Adverb
confab	Yes	No	Yes	No
chin wag	Yes	No	No	No

As nouns, chin wag is a hyponym of confab; that is, chin wag is a word with a more specific, narrower meaning than confab:

confab (noun)	chin wag (noun)
an informal conversation	light informal conversation for social occasions

confab (verb)	chin wag (verb)
talk socially without exchanging too much information
have a conference in order to talk something over