When someone ends up shitting themselves, usually in a manner demanding attention.
In order to classify as a Fecal Beacon it has to be seen through the pants, where no amount of boxers, jeans, or other outer wear can possibly hide it from sight.
John: Hey have you seen Smith?
Steve: No, what happened?
John: Dude, he totally let out a Fecal Beacon. His pants are ruined, everyone saw it!