well im sorry to say it but true preps don't drive mustangs and wear abercrombie and fitch. You are obviously talking about public school posers. Its alright to call down a look or lifestyle because in America free speech is allowed but by all means if you hate something or someone at least be 100 percent clear of what exactly a prep is. I am by all means not a prep but I believe in being accurate. TRUE preps do not drive mustangs and wear abercrombie and fitch. There are enough definitions of what a prep really is on this website. I recommend you research the word and find its true meaning.
The guy that drives a vintage mercedes sporting a ralph lauren polo with jcrew khakis is prep. Preps are not flashy. If anything they try to hide that they come from money. Its like the saying goes: if you have to tell people you have money, you don't!
A preppie fag is derogitory word to describe a lifestyle and clothing of choice.