Generally used to describe a gay man (possibly a gay woman) who is in a great mood, exuberantly hyper, and acting
extremely flamboyant (more so than usual).
Denotes a hyperactive and very happy mood contingent with flamboyancy going
off the scale.
May also be used to describe animals, days, or moods in general.
"He wouldn't quit smiling,
cracking sex jokes about boys, nor jumping off
the walls, he must
have been having a hyperfagtastic day!"
"She is hyperfagtastic!!!"
"Today is going to be super hyperfagtastic!"