Twaggot is a mix between faggot and twink. It is typically used to describe a very very gay and most times very annoying person. It can be used in a derogatory way, or playful. It can also be shortened to twag or twaggy.
it is japanese for shit, its a good way to insult your friends if they don't know the meaning of it, because they would be confused and would keep on asking you for the meaning of it