"Ugatz" is spelled correctly in the Neapolitan dialect of
Italian, "o cazzo." The
Italian equivalent is "il cazzo." The masculine definite article "il" in
Italian is "o" in Neapolitan, meaning "the."
It literally translates to "cock/penis", but is also used in Italian as the English words "fuck" or "shit."
ITALIAN
"Fatti i cazzi tuoi!"
ENGLISH LITERAL
"Mind your cocks!"
ENGLISH INTERPRETED:
"Mind your fucking shit/business!"
(in this case, "cazzo" is used
like "fuck/shit" in English.)
An example of "ugatz" used in
Italian-American English would be...
"You said this investment was a sure thing! Now look at my account balance! I've got ugatz here!
In this instance, "cazzo" is used like English's "shit," meaning "nothing." So...
"You said this investment was a sure thing! Now look at my account balance! I've got nothin' here!"