You all got the derogatory terms down and the whole bundle of sticks, yet you forgot the fact that it is also a well known British food stuff made of some form of processed meat, usually served with gravy produced under the name of "Mr Brains Faggots"
What insecure young males call each other when they don't have anything intelligent, clever, or witty to say.
The term is meant to be derogatory, but usually just points out that the person who uses it is unsure about their own sexuality.
Dave: Yo momma's so fat Her blood type is Ragu.
Steve: Oh yeah, well... ...you're a faggot!!!
Dave: That's all you got? Wow, how sad. Say, wanna blow me?
Steve: Yes.
1. ornament or join (fabric) by faggot stitch; "He fagotted the blouse for his wife"
2. A faggot is a kind of meatball. Faggots are a traditional dish in the UK, especially the Midlands of England. It is made from meat off-cuts and offal, especially pork.
3. A burning or smouldering piece of firewood; A bundle of sticks tied together.
I finishedfaggoting my pants together so that I can set down to a meal of steaming faggot balls roasted over a fire made of faggot piles and smoke a soothing fag afterwards. All in a days work.