The refined art of being just late enough (5 minutes or so) to give the impression that you are a busy, popular person that was held up with other business.
To show up to a place, party event, or meeting with friends a few minutes late, and somewhat intoxicated. The perfect phrase to let people know that you are fashionable enough to show up a few minutes late, and will be happily drunk when you arrive.
Matt: Hey we are going to the Up, when are you coming down?
Will: Kurt and I are at Kane's house right now, and will be showing up fashionably drunk.
Depending on the type/style of the event fashionably late can also range from 5 minutes (to a dinner date or a small gathering) to 45 minutes-1 hour (21st parties please note that there are also varying categories of 21st parties and discretionary judgement must be exercised). This time frame, or 'cushion', allows enough other people to have already arrived so that it is not only the birthday person and their parents in attendance and also conveys the possibility that you have come from a previous engagement (please refer to above definition).
1 hour late to a dinner party is socially unnacceptable and can protray an undesired tone of self importance however an hour late to a keg party is assumed and will be recognised as being fashionably late (again discretion must be employed to ensure that the beer will not be finished prior to your arrival).
A phrase that people use when they want to be considered "fashionably late" but are actually on time for the event in question. People who say they are "fashionably on time" are usually either joking or have an inflated sense of self-importance.
When you fail at something in life (eg. failing an exam or not getting a job), go home and spend an hour just standing in the shower, propping yourself up against the wall with your eyes on your feet.
Caleb knew the only thing to do after he didnt get prefect was take a failure shower.
And dying in yo' bed many years from now, would ya be willing ta trade all da days from dis here day ta dat fo' one chance, just one chance, ta come back here as young men an' tell our enemies dat dey may take our lives but dey will never take our freedom ... YUB NUB!