A combination of "fucking" and "gasp". Often used when you mean to type "gasp" but type "fasp" instead. But now it can be used to magnify your gasp with profanity! Everyone wins!
Melissa: Yesterday I caught my boyfriend, alone, in Baby Gap!
Melissa: Don't you mean gasp?
Amber: Hell no.
When u type so fast that it turns out all blah and isn't what it was supposed to be. Meant to be Gasp, but mistyped.
Similiar to *
Dude: Omg yesterday I was hanging out with Sarah, and she TOTALYL was hitting on me.
Girl: Haha, Fasp.
Dude: Yeah i know. xP.