Falooha is a mixture between the word slooha (for slut) and fag. This is a non offensive term that the gay community uses towards each other. It pretty much means a slutty fag.
The art of gently lifting a man boob with two fingers in a flicking motion, usually using the pointer and middle finger. Usually done as a sign of respect.
An imaginary drug for those with an incredible expansive imagination. The user simply imagines themselves smoking Unicorn crap until the point they feel light-headed enough to be high.
Drug Dealer: WHAT DYU MEAN U WON'T BUY MY SHIT? U ALWAYZ DO!!!
Jack: Nah, iam doin Faloopas now!
*imaginarly smokes unicorn crap*
Instead of calling him a bad word, the angry child said he was a "faloofa" thereby letting out his emotions while avoiding getting in trouble for name calling.