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This word is a combination of two words Fucking Lazy – similar to the term Fugly, Fucking Ugly. You would use this word to describe someone who is lethargic.
Thats one flazy bitch!
by Becslang April 20, 2006
abbreviation referring to a cock when it is between flaccid and rock hard (i.e. it is FAT and LAZY)
I love Adriana Lima...she gives me such a flazy.
by porn enthusiast August 03, 2009
The quality of being both fat and lazy. The word was actually invented by a person who was fat and lazy so they could describe themselves with less effort. Often used when declining to do someone else a favor or otherwise perform a task requiring work.
Example 1:

Mother: Derp, go get me the remote!

Derp: Naw, I'm too flazy.

Example 2:

Herp was going to sweep the floor, but decided he was too flazy.
by Al Golston April 30, 2012