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1.
The common redneck misspelling of Faggot
It generally used by rednecks who can't pronounce faggot.
Hey! you figgot! get off ma lawn!
by N00blet 420 October 11, 2007
 
2.
Pronounced Fee-Got

A Figgot is a person who loves Fiat cars.
Example One
Guy One: Pitbull's songs are in all the Fiat commercials.
Guy Two: He must be a Figgot.
Guy One: Yeah, what a Figgot.

Example Two
Guy One: Yo brah, you know anybody good for bud?
Guy Two: Yeah brah, but he drives a Fiat.
Guy One: Yo FxxK you man, I don't want no Figgots.
by @Bl00drushnick January 30, 2014