"Ugatz" is spelled correctly in the Neapolitan dialect of Italian, "o cazzo." The Italian
equivalent is "il cazzo." The
masculine definite article "il" in Italian is "o" in Neapolitan, meaning "the."
It
literally translates to "cock/penis", but is also used in Italian as the English words "fuck" or "shit."
ITALIAN
"Fatti i cazzi tuoi!"
ENGLISH LITERAL
"Mind your cocks!"
ENGLISH INTERPRETED:
"Mind your
fucking shit/business!"
(in this case, "cazzo" is used like "fuck/shit" in English.)
An example of "ugatz" used in
Italian-American English would be...
"You said this investment was a
sure thing! Now look at my account balance! I've got ugatz here!
In this instance, "cazzo" is used like English's "shit," meaning "nothing." So...
"You said this investment was a sure thing! Now look at my account balance! I've got nothin' here!"