Mexican "slang" word used by high class, modern, urban youth to describe themselves or other young high class males. "Papaloy" is the contraction and decomposition of the English words 'Father' as "papa", and 'Lord' as "loy" as they intend to represent the social "dominance" and "superiority" of a high-class, young Mexican male.
For the sake of definition, a "papaloy" is a young, wealthy, Mexican male who is stereotypically very good looking and studly and whose daily wardrobe always features very exclusive, high-end European or American brands. This here is the most important and identifying feature of a real "papaloy". Needless to say, 'knock-offs' of an exclusive brand (shoes, belts, sunglasses, jackets, shirts) would NEVER be worn by a "papaloy".
In addition to this, a so called "papaloy" is frequently seen in fashionable night clubs, exclusive restaurants, fashion malls and other high class social sites in the wealthy areas of Mexico city such as Polanco, Santa Fe or Bosques.
"Papaloys" are also known to have sky-high self esteems and to be potentially cocky and arrogant towards "non-papaloy" people. Furthermore, they are usually paired up or highly "sought after"by high-class, wealthy and beautiful females for their wealth and good looks.
Strictly speaking, there isn't a feminine version of "papaloy", however the technical feminine equivalent of a "papaloy" in Mexico would be called a "niña bien" (in English: "good girl" or "well girl" as in 'well-off'...)
An internationally recognizable and (to some point) accurate example of an authentic Mexican "Papaloy", would be the fictional character 'Chuck Bass' from the American teen drama series 'Gossip Girl', while 'Serena van der Woodsen' and 'Blair Waldorf' accurately exemplify a Mexican "niña bien".
IT IS IMPORTANT TO NOTE THAT NOT JUST ANY YOUNG, WEALTHY, MEXICAN MALE CAN BE OR SHOULD BE CLASSIFIED AS A "PAPALOY" AS HE SHOULD STRICTLY MEET ALL CLAUSES OF THE DESCRIPTIVE CRITERIA ALREADY MENTIONED IN THE DEFINITION.
Technically speaking, a "papaloy" can be from 15 to almost even 30 years old as long as he continues to meet the criteria.