An unsavory female (particularly redhead) with hairy unwholesome bits. Though a made-up term, it is intentionally aesthetically reminiscent of something from the Russian language--thereby conjuring up effective mental images of ghastly hairy transsexuals and horrible yeti beasts with atrocious halitosis and cold sores of mysterious origin. Synonymous with and applicable in all contexts in which the term 'swamp donkey' would come into play. Originally coined by a certain Dave C of FL, the term remains unequivocal in its brilliance.
Stacey was such a fucking schnaarg vaarg in high school. When I daydream in the meadow, I often like to imagine she has remained largely unchanged in her ways and overall appearance, and thus remains a schnaarg vaarg.