fake sneakers are what you buy if you actually want to wear the shoe instead of resell it like a faggot, basically you dont want to spend thousands on a piece of plastic.
Person 1: Yo man you like the new fake sneakers i bought?
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).