An insulting term meant to describe someone of Arabic decent, in a lot of cases someone Egyptian, particularly in an online game.
In Conquer Online, where a particularly large portion of players happen to be of Egyptian descent, players often call someone an eggy if they are trying to constantly bargain the price of an item on the market or someone who poisons other players for fun then runs (rather, jumps) away.
It can also be used to someone who constantly bargains, trying to get items for ridiculously low prices (may even try to scam other players in that), and/or is a noob. Eggys are also known for trying to buy other players' items or pretend they are interested so they can try stealing your items.
It can also be used to describe someone who is simply annoying and is a noob.
"Shut up, you stupid eggy. I'm not selling my equipment, so go away."
"You are just a stupid eggy. Go back to Egypt!"