Noun. A member of an elite who expresses their status flamboyantly in public through conspicuous consumption with pride, as opposed to an elite who dresses down and tries to blend in with the non-elite, disguising or downplaying their elite status.
Adjective. 1) An establishment, venue or product that caters to the elitny; 2) Actions that express the flamboyant lifestyle of the elitny; 3) Tasteless and overpriced.
"I'd always wanted to go in to that new restaurant the gossip columns talk about, but I was worried it was either elitny or out of my league financially."