To catch or recieve another mans cock in the ass or bottom on a regular basis or to recieve a very hard unimaginable pounding from another mans member in the colon.
When you want to saysomeone is a faggot, bitch or a pussy without having to offend any social justice warriors. Can be used to describe friends when they do some gay shit.
You slept over and didn't fuck her?! You're a Fagotto.
You've been at that Ralph's parking lot all night, that's some Fagotto shit.