FlySpace

When someone's Myspace page is extremely "fly" and awesome.

Bob: Man! Have you seen Jeff's myspace? It's super fly!

Katie: Dude yes! It's a Flyspace!

Failbooking

Getting on Facebook right after one of their many irritating layout changes and not knowing how to do anything like upload photos or find your notifications.

Bobby: Have you seen the new Facebook layout?

Jeffrey: Dude yes. I was sitting there Failbooking for like 5 hours yesterday trying to figure out how to upload a photo!