A
transvestite ie someone who wears the clothes of the
opposite sex for fun or sexual enjoyment.
Tranny mainly applies to men that wear women's clothes and often over overly feminine and parody women.
Can be derogatory when used by a non-transgendered community member but is seen as a term of endearment within the community.
Not to be confused with transsexual which is a person who's outward gender is non-concurrent with the gender of their brain and is treated with hormone therapy and gender reassignment surgery.