Top Definition
A gathering of fine ladies.
Yo, that party was a phancy pheast!
by Butch June 01, 2004
A sub cultural icon in San Francisco's independent fashion design world. Predominately active in the 1990's and early 2000's as a muse, model, performer and all around bad influence sought after by the fashion police for genderfuck runway performances. She is currently on sabbatical studying the psychological effects of false eyelashes and old makeup on religious icons for the Musée D' Dernière Mode in Paris.
I sold my autograph of Phancy Pheast for $170 on EBay. I should have taken it to Bonhams and Butterfield's for an appraisal first!
by Phancito April 16, 2008
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