Faggy Waggy is basically just a less offensive way of calling someone a faggot that also makes you seem as if you're looking down at them due to it's childish tone. It works most efficiently if someone is complaining about something childish, or just anything in general.
Michael: Oh my God! This game is so shit! I keep fucking dying!
Adam: Stop being such a faggy waggy.
Adam: Stop being such a faggy waggy.
by chefffy August 17, 2020
Get the Faggy Waggymug. 1.One whose waggieness is so extreme, it is taken to a MEGA level
2. To be bi-curious about life's decisions
3. One who pours their expensive bottled beer into a glass
4. 1,000,000 Waggies
5. See also F-3.14
2. To be bi-curious about life's decisions
3. One who pours their expensive bottled beer into a glass
4. 1,000,000 Waggies
5. See also F-3.14
by z4rt4n February 8, 2009
Get the mega-waggiemug. 
The unfortunate situation, usually a result of poor or hasty wiping, of having dried poo entangled in the gooch pubic hair.
by Laddd June 19, 2009
Get the claggy-in-the-waggymug. by fishywang August 4, 2010
Get the shaggy waggymug. by Anonymous_231 May 27, 2021
Get the Shruggie Waggiemug. When you’re already gay but your male dog is so happy to see you he starts humping your leg. The dog is also gay.
by Shydynasty May 21, 2018
Get the faggy waggymug.