Formerly defined in stature in the redneck forests of Kentucky, the word was popularized by the Great Bubba. In nature, the word Fyuckin Fyaggit can loosely be translated as a description for a man or woman who is completely fucking retarded and has no knowledge of how to be a human being.
Person A: Look at Randy fucking the dog! What a fyuckin fyaggit!
Person B: Dude that Fyuckin Fyaggit is your sister!