look up any word, like doxx:
 
1.
Like fancy, only better.
Your Mom's thong is phancy.
by Butch June 01, 2004
 
2.
A combination of "phat" and "fancy". Something or someone of high quality, cool and or sexy.
"That girl is phancy."
"That's some phancy gear yo."
by urban_dame October 15, 2006