1) An expression that denotes the user thinks the person or thing s/he is describing is the opposite of classy; it can be used regardless of whether the person/object is attempting to be classy (i.e. having klass rather than class).
2) Very tacky, or in some cases, trashy.
She was wearing a white blouse with a black bra, too tight daisy dukes, and clear heels
Wow, that's classy with a capital K.
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