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3. phag
a gay person who has street credibility; a homosexual who's got street smarts and is one tough gay thug.
thug1: "yo dawg, dont fuck with dat phag, he's packin some mad heat in his steve madden bag."
thug2: "fo'real?"
thug1: "fo-rizzay!"
1. phag
a cool fag (spelled like phat for similar effect)
Yo, check out da shoes on dat phag--theys so pimp!
by Goodspeed Apr 25, 2004 add a video
2. phag
Pretty Hot And Gay. PHAG.
jon is a a huge phlaming phag.
by 123 Sep 5, 2004 add a video
4. Phag
The same as calling someone a fag but not as harsh so one can call a mate a 'phag'.
a light hearted dig at someone.
"oi man your a phag"!
5. phag
Pleasant to Hang Around Gay.
"Mac is such a phag."
6. phag
calling someone a fag. yet not meaning theyre gay.
EXAMPLE ONE
Person 1: Omfg you just kicked me dude. You are phag.
Person 2: I am not a homosexual.
Person 1: Duhh I know thats why i called you a phag with a PH not an F....Dumbass.

EXAMPLE TWO
friend 1 - so im deff. ashamed that i like this song
friend 2 - you like this song? haha PHAGGGGG
7. phag
an acronym for please have a great summer
a clever way of calling someone a fag in there yearbook
Today i signed someone's year, it was nice to meet you and phag
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