The opposite meaning of the word classy. Mostly used on social media websites where people try to impress their peers and brag about looking wealthy or classy, but in fact leaves the opposite impression.
"Got Andre champagne on deck!!".... klassy
"Got me a new Ralph Lauren polo on clearance".... klassy
"Spent my whole paycheck on a pair of True Religion jeans. Swag!".... Klassy, have fun eating dog food and not paying rent.
Guy 1: Did you see Scott's new jordan shoes he payed $225 for?
Me: Yeah. I also saw him walking around at the party with a klassy bottle of Burnett's vodka.