From the Spanish word "Puto", which means faggot or gay. When it is used as "Masputo", it means something that is REALLY, REAllY gay. In his stand-up act, George Lopez: America's Mexican, he mentions puto as in being gay and masputo as an even gayer form of puto.
"look at how masputo that guy looks walking his dog by himself."
by jaun chingon October 09, 2007