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1. When you try to bail someone out, and fail.

2. A level of failure more severe than an epic fail.
use 1. After David got picked up for public drunkenness, I tried to get him out of jail, but didn't have enough money, that was a real failout.

use 2. Henry Paulson - failout.
Failout by p_e_ December 16, 2008
Related Words

Failout 3 

The true name of Fallout 3. It's over-rated, overhyped, and it's crap. Rent it before you even consider buying it.
Failout 3 by Xtreme2252 August 14, 2009

Failution 

To make several new year resolutions but fail to achieve any of them.
I was too optimistic with my resolutions last year, they were a complete failution!
Failution by Chraz February 2, 2018
Failcut, noun.

When you try to break up with your significant other (or actually do) but continue to sleep with them afterwards; normally for lack of a new sexual partner.
Is that Ashley in your bed mate? Well that was a total failcut.
failcut by H-doggy dog March 22, 2010

failrunning

failrunning is similar to freerunning (aka - parkour), can be equally athletic or extraordinarily painful, but is only impressive if done purposefully and skillfully.

It happens skillfully when done on purpose in the same way stuntmen fall and look hurt in fight scenes, or it can happen by chance when someone either has an accident, or is just incapable of performing an action.
I saw a failrunner fall down 3 flights of stairs and get up without a scratch.

Some guy tried to show off his parkour, and ended up failrunning off a balcony and crushing his nuts on a bike rack.
failrunning by FailrunnerOne June 3, 2011
the failure to do something, usually results in punishment; resulting in failure; unsuccessful in something
The failute to due her assignment caused her to get points removed.
Failute by PeppermintTrees April 24, 2023