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a woman accompanied/admired by a posse of gay men, not because she sought them out (see fag hag or fruit-fly), but because said gay men are drawn to her by an unseen yet powerful force, as in a magnet; said force generally defies description, but seems most often to be founded on a gay man's admiration of an elusive quality, usually referred to as "fabulousness"
Brad: "I've never met so many hot gay guys in one place. How does Maggie know them all?"
Tony: "Honestly, I don't think she does. She's just a total fagnet!"
Brad: "She is SOOO fabulous!"
Tony: "I know right!"
by MaggieDay January 31, 2009
A female who is very obviously irresistible to gay men, the word being a combination of the now rather dated FAG HAG and MAGNET; such a woman is usually surrounded by an entourage of poofery.
You could not get near Ms Midler for the hordes of effete young men who surrounded her. She is clearly a FAGNET!
by AHBgoingaround March 30, 2014
Something that will lure homosexuals
That bumper sticker that says "I heart vag" could actually backfire against that hit in a "methinks thou protesteth too much" sort of way and actually become a fagnet.
by rock and roll Dr. May 21, 2013
A straight woman who consistently attracts attention from gay men in various social and public settings.
Jackie: Dude, Kerry always finds random gay guys to buy her drinks and pay her cover charges.

Teo: Yeah, she is such a Fagnet.
by MartyandKendal July 04, 2009
A person that attracts fags
All the gay guys keep talking to him, he's such a fagnet!
by DarkangelUK January 12, 2004
A person, usually straight, to whom homosexuals and bisexuals are drawn as friends.
My ex-wife is a fagnet. Every gay person, man or woman, for 500 miles will find her.
by coffee_sloth June 19, 2003
A woman who attracts gay men
Liza Minelli is nearly as big a fagnet as her old Ma was!
by Edna Sweetlove October 05, 2006