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1.
Any person who carries a backpack with them at all times. Even when showering, masterbating, eating or just hanging a shit.

Many of these creatures are dangerous, and oddly could be green in colour. Approach with caution and do NOT feed them.

They travel in packs like wolves. Also, women and men alike die to be with them because they're so cool with their sunglasses.
Some guy: "Whoa watch out guys, that's Johnny N! He's a fagwithabag!"

Some girl: "Ohh.. he's so dreamy.."
by fbutt June 26, 2005
 
2.
an extremely joyous homosexual with appropriate accessories
when merl seen his new engine,he was happy as a fag with a bag full of dicks
by matt sandoval September 29, 2006