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Something that's fake. Something that doesn't exist in any way, shape or form. It's made up.
Mark Hanna: You know what a Fugazzi is?
Jordan Belfort: Fugazzi.. yeah, it's a fake..
Mark Hanna: Faguzzi, fugazzi, it's a whazzie, it's a whoozie.. it's a.. fairy dust. It doesn't exist. It's never landed. It's no matter, it's not on the elemental chart. It... it's not fucking real!
Jordan Belfort: Riiight lolz

(from The Wolf of Wallstreet)
Fugazzi by ezekwail April 11, 2014
Related Words
Every other girl you meet is fugazzi.
Fugazzi by Jimmylee13 October 17, 2018

Mob Figaz 

Group of rappers from Pitsburg, California consisting of Husalah, The Jacka, Ap.9, Rydah J. Klyde, and Fed-X. Bay rappers who started their career grindin and slangin. Some of the truest rappers from the bay.
FREE HUSALAH!!!!
Have you listened to the new dope ass album by the Mob Figaz.
Mob Figaz by Ant Dogg January 22, 2009
its a fuckin fugazzi!
shes a fucking fugazzi
fugazzi by deadcat June 24, 2003
Fake, not real,lame, ass out here, so damn wack
Man those are not diamonds in tha watch, that shit is fogazzi!
fogazzi by Sha'Dior Lynii May 6, 2007
fake, false, awkward, tampered, tainted,
The other day that mofo said he was my nigga, now hes taking shit about me. What a fuckin fogazzi prick.
fogazzi by dpenn2 March 2, 2010