To swindle, or take advantage of a person, group of people, or situation that enables you to make money from those less in-the-know than you. These person(s) are often referred to as the goose or geese that are being famoosed or fameesed.
You need to famoose the goose, and fameese the geese. And it's crucial that you yourself are NEVER famoosed!
A flamboni is when a man takes a woman's bloody recently used tampon and drills it up his own ass using his index finger, then craps it back into the woman's mouth.