The use of any gay related word in a negative connotation. It is often used as a response to idiotic statements, observations, ideas, jokes, etc. Fag dagger is often used in its shortened form "fag dag."
Dude 1: "Brad Pitt looks handsome in this picture."
Dude 2: "Dude, you are such a queer."
Dude 3: "Nice, fag dagger!"

or

Dude 1: "Shut the fuck up you homo!"
Dude 2: "Why you gotta throw a fag dag, man? My mom can hear you."
by citythatneversleeps July 24, 2009
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