TOM HANKS and RITA WILSON are supposedly embarrassed by their 24-year-old son, who's trying to be a rapper under the name CHET HAZE . . . while still living at home and not holding a steady job.

A source says, quote, "Chet's out of control on the Internet, and it's a huge embarrassment to Tom and Rita.

"He talks tough street talk and raps about skipping classes to smoke pot. But behind his back people are laughing because they know he was raised in Brentwood with mega-wealthy parents."

Not helping matters is the fact that "Chet Haze" still lives at home and doesn't have a steady job.

(Last year, Chet was named the third-worst rapper EVER, behind the Insane Clown Posse and reality TV moron Spencer Pratt. Check out the mad skills of Chet Haze at his YouTube channel.)