An adjective describing that which is flaky, pretentious or superficial, specifically in relation to art and culture; can either denote an artistic object or a person (i.e. one practicing or claiming to practice an art form). Originally used homophobically, in which sense it is synonymous with art fag.
I don't understand what my son does, it's so artsy-fartsy.
Ken called himself a painter just because he was the artsy-fartsy one in highschool.