The act of an individual being stupid or it can be used as a adjective to describe a persons persona.
Guy 1: Dude, Kim Kardashian would be the best wife to have.
Guy 2: You're an eggass, man.
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Guy 1: Yo bro, she pretty cute but there's something off about her.
Guy 3: Yeah, I think she has down's syndrome.
Guy 2: Oh, you mean she's eggass.
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Guy 1: Hey, Guy 2, don't you think the Xbox One looks fantastic
Guy 2: You MUST be an eggass.
Guy 3: Yeah man that was pretty eggass of you.