A combination of the words free + easy.
Usually referring to a woman that seems like an easy target for a one night stand while being free of any negative attributes such as (but not limited to) being fat, ugly/unattractive, diseased, infected, completely intoxicated, etc...
Guy 1: Yo man this girl is going to be a total freasy for me the way she is grinding on me tonight!
Guy 2: Oh yea! You better tap that soon before she is tanked and useless!
Guy 1: As long as there is even a faint pulse she's still freasy in my book.
When one's hair is free and easy it is referred to as freasy - usually after washing.
Beant has just washed his hair, it's freasy at the moment.....
Freasy, a combination of fried and greasy. Originated in rural Nebraska near Alvo.
That chicken was so freasy last night, it made me sick for 3 days!