Referring to the size of a marijuana cigarette and/or cigar. Regarded in a sarcastic tone and used by those with 'college' student-like budgets (i.e. not a lot of money) to represent a marijuana cigarette and/or cigar fitting such a lifestyle.

A small marijuana cigarette and/or cigar
Come on over dude! I got a college fatty rolled up!

Yeah, I'm not high anymore, I smoked a college fatty with three other people...
by Thaddious Braddley February 4, 2017
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