Scooter from the GTA video game series. It is a derogatory, effeminate play on the name of the Italian scooter brand Piaggio, as scooters (sometimes referred to as vespas) are generally perceived to be only a slightly less emasculating mode of transportation than the segway, the pink tricycle, or an electric barbie car.
Secondarily, It can be interpreted as a clear insult directed at the effeminate owners of such modes of transportation (see artfag).
This beigecream faggio certainly is a slow and gay mode of transportation
That faggio owner certainly looks gay slathered in beigecream