Short for "You fucking idiot"
Bob: Waht is 1+1?
Useless Fucking Information. A term often used in military settings, or anywhere there is bureaucracy. Refers to boring, generally useless information, often handed out against the wishes of the recipient.
Bob: Did you go to the meeting today?
Fred: Yeah, the director just gave out some UFI about next week's conference.
gimpB0y: dude, you didn't follow me on Twitter.
dude: no way, Twitter is too much UFI.
(proper noun) The University of Iowa (Iowa City).
More accurately, The University of Freakin' Iowa.
This stems from Iowa men's basketball coach Steve Alford saying "You're from Freakin' Iowa" when stunned that a local reporter would ask him if he's interested in the Indiana basketball job.
My grades are so bad, I couldn't even get into UFI.