There isn't a lot on "dem internets" on this subject, but I did find some valuable information from a fellow blogger, TopMackNiggga, and he states the following:
Big Homies are tha OG Niggas and tha Little Homies are tha Up and coming Niggas. Big Homies are always fighting to hold on to the respect the've earned through tha years, little homies are trying to earn initial respect. Both must continuously work around tha clock to maintain respect and status within tha Hood.
Thanks, TopMackNigga! I think I now have a better understanding on this issue, and the next time someone calls me one or the other, I'll correct them. I think that at the bars, for instance, I'm a Big Homie. I've been around these blocks for years, and if these Lil' Homies would let me bend their ear for a moment, they may just find themselves laid because there's a lot of knowledge I could drop on these young bucks.
How about you, Seven Readers? What type of homie are you?