A homosexual male (think of it as the counterpart to Lesbian.)
This is actually quite old slang- dating back to the 13th - 14th century. It has its roots in Catharism: a religious sect that believed that the physical world was evil, and thus encouraged its followers to not procreate by engaging in anal intercourse rather than vaginal. Despite their peaceful philosophy, they were eventually massacred by Catholics (in France there was even a crusade against them- look it up!) Since many of the Cathars beliefs had originated from a similar sect, the Bogomils of Bulgaria, they were called bougres (French for Bulgars,) which eventually mutated into the modern day slang term "bugger."
Girl 1 - I like Jimmy, but sometime I get the feeling he might be a bulgarian. What do you think?
Girl 2 - He's just metrosexual.
Straight Man 1 - What do you think is better, Wicked the book or Wicked the show?
Straight Man 2 - The book, mos def.
Straight Man 3 - You guys do realize how incredibly Bulgarian this conversation is, right?