A combination of the words "slut" and "faggot" An insult used to call someone a "slutty faggot" with the use of one powerhouse of a word.
Made popular after its use in the TV series trading spouses "Shes not a Christian! Gargoyle's! Slaggot!!!
or
"Hey faggot you need to watch how slutty you act your one bj away from slaggot vill"
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