prep

Noun- Most commonly used definition: A derogatory term for a materialistic person. Generally this applies to caucasian females between the ages of 12 and 19 who wear expensive brand name clothing. "Preps" are often seen as bratty, slutty, blonde, popular, fake etc. Rarely does this term have a positive connotation.

When seeing someone walk out of a store like Abercrombie and Fitch carring a Louis Vuitton bag:

"Ugh, she's such a prep!"

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