1.) When a girl shows up (to a party or other) later than "fashionably" late, but she is looking EXTRA good and flashy. i.e. barely wearing any clothes.
Rod: "Hey... Jen finally made it to the party!... DAMN look at what she's wearing!"
Dave: "Yeah.. she made it alright... Flashionably Late and lookin' MIGHTY fine!"
Rod: "Oooooo WEE!"