Originaly it was a offensive way to call gay men , but nowadays mostly used as a synonym to words such as : idiots , retards , losers etc.
A Term Used in South Park To Refer A Douchebag Harley Rider That Is Loud,obnoxious And A Stupid Asshole and they ruin everything to turn heads making noises to attract attentions
Hey Assholes You Know that everyone thinks you are total faggot
some gay fuck who thinks they are special
“Did you see Chris over there”
“Yeah, have you heard? He’s a faggot”
“Interesting.”