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1.
Something that drag queens, gay men and Shaniqua-like girls address each other as when they get sassy. Is usually accompanied by a Z-Snap, a smack of the lips, a twist of the head, and an "OH NO YOU DI'INT."

Beware of a drag queen, a gay man, or a Shaniqua when they refer to you as this term. If you want to keep your weave intact, it is necessary to Get Out Their Face for at least ten minutes after being called a Miss Lady. After ten minutes have passed, you can go back and sass them until they call you Miss Lady again. Then, beware.

Miss Lady is also the companion to "Miss Thing/Miss Thang."

Is also a term used excessively by people like Tyra Banks and Miss J. Alexander.
Drag Queen 1: Uh uh girl, you did NOT paint your fingernails Toxic Radioactive Vomit Orange!

Drag Queen 2: MHM girl, I did!

Drag Queen 1: Girl, you look ghetto-fabulous!

Drag Queen 2: Let's not get sassy, Miss Lady! We all know I'm a classy bitch!

Drag Queen 1: Bitch, you walked through the ghetto forest and hit every tree! Did you buy your weave at Walgreen's?

Drag 2: UH UH, YOU DID NOT GO THERE, MISS LADY *Z-Snap*

*Drag Queen 1 makes hasty retreat*
by Lyosha October 20, 2009