"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!"