It is an acronym for "F*** you racist bastard"* or "F*** you retarded b*tch"**.
* - Example 1
** - Example 2
Person 1: (a racist comment)
Person 2 (who is offended) WTH are you talking about you m*********ing furb!
Person 1: I slept with your girlfriend last night.
Person 2: What the... f*** you furb!
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