a person who pretends to be or thinks they are ghetto. Many examples of faghettoness can be found in prepschools such as shipley baldwin agnes irwin haverford and ea.
betty: WOW u see that kid over there he looks soo ghetto!
Jack: betty he goes to ea hes loaded with cash goes to a prep school and lives in a mansion, hes faghetto.
betty: ohhh, wanna fuck
Jack: hells yeah