To quit a video game out of fear rather than rage, à la ragequitting. Usually because of something so mindfuckingly scary you literally cannot continue playing.
Gamer 1: Oh, dude, I just got Dead Space 2, I couldn't even finish Dead Space.
Gamer 2: Why?
Gamer 1: I kept fearquitting!

Later that day...

Gamer 1: Never again...never again...
Gamer 2: You fearquit, bro?
Gamer 1: *nods*
Gamer 2: Don't feel bad, man. Happens to the best of us.
by I Define The Internet February 26, 2011

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