Fagbag

Aka A fanny bag, fanny pouch or bum bag

Guy: " I always wear my fanny pouch... I never leave home without it"

Other guy: " You mean that body glove brand fanny bag? That is Rad, dude... Sike.. ha .. It's a damn fagbag! "

(I know saying this hasn't been acceptable since the 80s and it was wrong then too but its like the R word...we dont literally mean it to be nasty to the disabled. I don't say either word but i do think of them as 2 different words..like dyke or jackass)