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To date or be in a relationship.

Reference to boyfriend - bf, and girlfriend - gf.

Pronounced 'buffguff' as spelt.
Dude 1: Hey man, I hear Zak and Spud are finally dating!

Dude 2: Oh yeah, they've been bfgfing for a while now
by NotZakBecauseHeSucks July 18, 2011