Short for flamboyant. Origianted in times of angst from political correctness, it is used to differentiate which homosexuals are actually gaywads. You know, the fairy kind. One can also be a flam without actually partaking in any homsexual activities, but most experts agree that any flam would readily engage in said queer actions.
1)noun: Check out that flam heading into the Gap, he has a tattoo right over his asscrack. Yuck.
2)adj: You know why that guy has so many chick friends, because he's flamish. They dig the flamish ones because they're great shoppers.