A hot nazi. This refers to a sexually attractive person who exhibits nazi attitudes (racist, homophobic, and/or facist) or appears to be the stereotypical blond-haired + blue-eyed Aryan. As such, it can be taken as a compliment, backhanded compliment, or an insult.
Not to be confused with Kenny Hotz.
"I know he's always talking about eradicating the jews or whatev, but he's totally fit -- the boy is a hotzi."
A caucasian person, typically a straight male, that is so unbelievably attractive but you would never pursue not only out of fear of rejection but fear for your life.
"That tea party rally had so many Hotzis."
"Edward Norton played a hotzi who changed his ways in American History X"