Futch (adjective) describes:
a) a non-standard display of female masculinity, which contains elements of the feminine (such as clothing, walk, cosmetics, shoes).
b) a non-standard display of queer femininity, containing elements of the masculine (such as clothing, walk, cosmetics, shoes).
If butch/femme is a spectrum, a futch may be found at any or all of the points in between.
A futch presentation may occasionally be ephemeral, caused by the migration of an woman's queer self-identity, but is much more likely to be ongoing and deliberate; reflecting an individual's own position of comfort on the queer gender presentation scale.
Tila Tequila's date, Dani Campbell, a lesbian firefighter from Florida, claims she invented the word "futch" to describe herself as being part butch, part femme. However, a spot of research will reveal that the word has been in moderate usage in the dyke community since at least 1990. Dani would have had to be a very inventive little futch at 11 to be the word's progenitor.
Sometimes futch sighting is a false positive, as in the case of many rural women who make the gaydar spang wildly, but who are merely hetero women who portray common lesbian markers, such as speaking firmly, gesturing strongly, taking no nonsense, and using no botox. While wearing boots.