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a cool fag (spelled like phat for similar effect)
Yo, check out da shoes on dat phag--theys so pimp!
by Goodspeed April 25, 2004
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a gay person who has street credibility; a homosexual who's got street smarts and is one tough gay thug.
thug1: "yo dawg, dont fuck with dat phag, he's packin some mad heat in his steve madden bag."
thug2: "fo'real?"
thug1: "fo-rizzay!"
by jewish spanish boy May 09, 2004
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The same as calling someone a fag but not as harsh so one can call a mate a 'phag'.
a light hearted dig at someone.
"oi man your a phag"!
by Loaf_aus March 21, 2009
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calling someone a fag. yet not meaning theyre gay.
Person 1: Omfg you just kicked me dude. You are phag.
Person 2: I am not a homosexual.
Person 1: Duhh I know thats why i called you a phag with a PH not an F....Dumbass.

friend 1 - so im deff. ashamed that i like this song
friend 2 - you like this song? haha PHAGGGGG
by [dinokris] June 28, 2006
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