Marijuana slang term used in various contexts. 1:(n) Large joint or blunt. 2:(adj) Highly satisfactory.
1:"Yo, pass me that phatty"
2: "Damn dude, that is a phatty bong"
by a_bortion May 03, 2005
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the epitome of all that is cool or great. the height of excellence.
"now THAT is phatty."
"that's one phatty llama you've got there."
by WorldChanger August 24, 2005
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