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an acronym (pronounced as a single syllable) for "Gently Flicking the End of My Penis]". It can generally be exchanged in place of "joking" or "kidding" to impart a sense of incredulity.
Kevin: Dude, lemme buy you a beer?
Chris: Serious? You're not GFEMP, are you?
Kevin: Yeah, you got me...
by Cosmo July 26, 2006
short for gently flick the end of my penis meaning to tease someone with something you have no intention of giving them.

(First used in a popular online roleplaying game)
Is that for me are are you just gfemp?
by skye maidstone July 18, 2006