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1.
A spastic Nazi
Heil Hitler! Nein, don't heil Hitler, er ist ein SPAZI!
by Verkaiser July 27, 2011
 
2.
A person of Mexican, Spanish or Puerto Rican and German descent. A mix of the terms spic and Nazi.

Pronounced spot-see.
" Yo, that kid must be a spazi, he's chanting in German while riding in a lowrider. "
by Spazi Kid August 21, 2006