Usually used by Hispanics and Black people to name someone who is literally someone wimpy, no girls, no booty, can't play ball, and rejected by everyone except for people of his own pale color. One who's mommy and daddy pay for everything and who go to college just to get drunk and sit around on their asses all day.
White Person: Hey my HOME-BOYZ!! What's g-stringin mah niggazz?
Black and spanish people: Ey little white dude, get yo stinkin pink ass outta here befoh I shoot ya. Oops. Too late.