this is a shorter term for "Flap Of Skin". a flap of skin is someone in your group of friends whom you may consider the "loser" or the person who you only hang around with for a certain reason, that reason not perticulary meaning you enjoy their company.
it could also mean someone with NO private parts.
" Kris has no vagina"
"She is but a Flap Of Skin!"
"I couldn't concentrate when the FOS was talking to me, she annoys me to much."
Code word for full of shit to get you out of trouble. You say it to someone and they just look confused when other people might realize what it means. Can also be pronounced Fos for short.
When my teacher told me that my homework assignment I turned in was worth a D when I knew it was worth and A, I said "You're F.O.S., this work is flawless!" I got sent to the office because apparently he knew what F.O.S. meant.