A term combining fag and astronaut, stemming from the use of fag as a pejorative. Essentially the same meaning as fag, but with amplified meaning. Literally means a gay person, but as with the word fag itself, is often used to describe loser, idiot, pansy, or any number of generic insults.
Stop being such a fagernaut and give me the TV remote.
Ruler of Lake Titicaca. Rumored to have a bunghole that gets very angry if it does not receive toilet paper. Cornholio the Great is often seen walking around with his shirt over his head and his hands in the air, chanting songs about his power, and his bunghole.
"I am Cornholio! You do not want to face the wrath of my bunghole, for I need TP!"
Butthead: Shut up, Beavis! (uh huh huh huh)
Beavis: Um, okay. (heh heh heh heh).