Using proper french, one says J'ai froid- rather than Je suis froid.

In many regions it tends to mean that some one is awkward, or distant.

In many cases people use it as slang for someone who has erectile disfunction, and or 'cold' in bed.
Joe said "sorry, Je suis froid" last night, it was so embarrassing.
by Yoyomaa January 26, 2009
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