UK Bum bag
US Fanny bag

UK Rubber = the thing you use rub out mistakes you have made with a pencil

US Rubber = a Contraceptive

The Expression 'to loose your Cherry'
UK = you had a cherry & now you've lost it
US = you've lost your virginity

The implement you use to turn water on/off
UK = A tap
US = A fawcett

A Faggot

UK = A delicacy
US = A gay person

To play crap

UK = Some who plays sub standard
US = a Card game