A gay person, but this word is used as an offensive insult towards said gay person.
Homophobe: What are you, a faggot?!
Gay Person: Hell yeah I am, also, don't use that word.
Other Gay People: Yeah, it's offensive!
Faggot:A Person Who Is A Little Asshole AND They Think They Are The Shit Basically Alpha (Stewart)
Eltres:Wow Stewart Is Such A Faggot
Sonic:Ikr
you
me:Hey Look at This Urban Dictionary Entry!
You:wtf i'm not a Faggot
A derogatory term for a gay man
Person 1 You're a faggot
Person 2 Fuck you