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Used as subtle reference to someone who is, or appears to be, a homosexual, and/or who is acting in a homosexual manner. Derived from the combination of two more common words: fagot and gay.
Party goers who witnessed Mike snorting cocaine off of JJ's penis later referred to him as a "Foogazi".
by AZBLKs July 14, 2008
Italian word for fake. Not real.
Does not mean gay.
These diamonds are foogazi you fuck!
(Movie: Donnie Brasco)
by DiiNc January 19, 2009