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created by "love don't cost a thing" writers (starring Nick Cannon), it seems to mean:

an ugly-ass nerdy guy who is buggin'

clearly a case of Hollywood trying to use Reagan's trickle-down theory with slang.
nick is walking down the "cool" hallway at his h.s., the cools turn and say, "Who does that <i>buggawuf</i> think he is?" (or something to that effect)
by Teresa Smid June 27, 2004
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