Suffix, common on *chan type sites and some other internet forums; roughly synonymous with person.
As used on 4chan, not always derogatory. They label may be self applied, as in the case of newfag or oldfag to indicate either humility or pride, depending on usage.
Sometimes the uses are derogatory, as in the case of moralfag, someone who is worried about the morality of a certain action.
2. A derogatory term for a homosexual person (mostly males). Usually used by homophobic heterosexual males to describe other heterosexual males. (usualy friends or strangers)
3. A derogatory term for a homosexual person (mostly males). Usually used by homophobic heterosexual males to describe homosexuals.
4. Used mostly by teenagers to describe an annoying person, male or female.
1. Hey mate, could you bum me a fag?
...No.
2. Dude I can't believe you missed that shot. You're such a little fag.
Shut up. You're mom's a fag.
3. I saw that new exchange student staring at my body while we were changing.