noun - a genre of motion picture/television series/book/etc. created to cash in on the tremendous amounts of capital available to "Twilight" fans; the genre as a whole is blamed for making vampires far less scary (or in any other way even remotely interesting) in popular culture.
Mary: "I saw a trailer at the movies and at first I thought, 'Yay! Vampires!', but then I saw it was just another vampsploitation flick."
Gwen: "Tell me about it. These things are making *Count Chocula* look like a badass."
When a heterosexual male deceives his homosexual friend's fag hag into making out with him by convincing her that you're gay. She does this because she thinks that making out with a gay man "doesn't count". This behavior can stretch to second base on occasion.
Cindy called me out for hagsploitation today after friending me on Facebook and realizing I'm straight. She had totally let me fondle her boobs last Saturday cause I was with gay Peter and she thought I was gay.