Used by Guatemalan young males, it technically it means "gay" with a negative connotation. Used during fights and soccer games in an aggressive way, or as mockery or greetings between friends.
At a soccer game a guy falls on to the ground claiming a foul:
Weekend spent doing nothing but forgetting your life is a constant waste so in order to forget about your personal problems and the past five days of torturous work you engage in numerous bad decisions. You forget what driving sober feels like and think condoms are the devil. Oh, and the occasional finger in the ass may be necessary to finish while drunk sexing.
It'salmost my weekoffend and I am going to fuck shit up!