1. An attention getting term for anyone you like. Its more fun than saying "Hey you"
2. Used when you cannot remember one's name...
3. Used to describe someone whos is getting uppity or believes that he/she is too good for everyone else.
1. instead of 'hey you, can I borrow the keys to your car'
'Fancy McShasta, can I borrow the keys to your car'
2. instead of 'oh, thats ummm, that guy who's name I never remeber... '
'Oh that's, Fancy McShasta'.
3. 'Boy, Ken's a real Fancy McShasta since he graduated from college.'