An ozone fag is somebody who doesn't drink, who tattles, who is easily offended, who has a big mouth in front of his friends but when it comes to the confrontation he gets scared, and somebody who doesn't do extreme stuff like going on a speedboat because they get scared.
George: "Dude You Wanna go on a speedboat"
Luke: "Nah dude don't feel like it, im scared"
George: "Comeon dude, don't be a Ozone Fag"
An Ozone Fag is somebody who hangs out at ozone, who does not drink, who tattles or cries about basic things, who is scared of simple things such as going on a speedboat ride or somebody who has a big mouth in front of his friends (which he also gossips to) but when being confronted about this he gets scared.
Peter: Yo Dude, down for going on the speedboat
Luke: Nah dude, its too fast
Peter: Seriously Dude, Dude be an Ozone fag!