A strong feeling or sudden realization that someone you know or someone near you is a homosexual. Thought to be a combination of the derogatory term "fag" and the word "sensation".
Guy 1: "Dude I'm experiencing a serious fagsation from Bob right now..."
Guy 2: "Hell ya dude...that kid's a homo."
Guy 2: "Hell ya dude...that kid's a homo."
by VinnieROCKS94. February 1, 2009