In short, a fairy godmother is a good-looking faghag, a good-looking female that primarily hangs out with homosexual men - please see definition for faghag
If Cindy Crawford hung out with gay guys all the time, then she would be a fairy godmother
An older woman who enjoys the company of younger gay men. This is different from fag hag
in the sense that it specifies the age relationship between the parties.
My mom is such a fairy godmother; every time she hears I met a new gay guy she just HAS to meet him.
to change someone's look; to make-over
"Ew. He was like out of a 1999 Esprit ad." "Whatever, I would have fairygodmothered his ass."