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1: (adj) Of goods or commodities; freely exchangeable for or replaceable by another of like nature or kind in the satisfaction of an obligation

2: (n) A commodity that is freely interchangeable with another in satisfying an obligation

3: (n)(Slang) Items which are simultaneously the product of fungal growth--typically bluish, small and phallic in appearance--and devilishly fun.
Hamish's enjoyment of the Roasted Mensch weekend was greatly amended by his liberal intake of fungibles.
by Evan M December 03, 2004
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Term used to describe something that is easily changeable and/or open to change - unlike a certain DBA manager I know.
One could not describe his objectivity regarding a certain DB company located on the West Coast as 'fungible'.
by Scary Potter April 21, 2008
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When two or more assets are interchangeable.
A security is fungible if it is perfectly interchangeable with any other of the same type and class.
by FAST DWAC November 10, 2012
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