(noun) Someone who is gay to the moon and back.
That guy's boyfriend looks like a real moonfaggot.
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Someone whose flamboyancy shines brighter than the moon.
If that guys appearance had any more rainbow I'd call him a moonfaggot.
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A bad word that can be used as a compliment to your friends.
Helen: Man, Greg bought everyone a round of beers! What a nice guy.
John: That was the best beer I've ever had, Greg's a real moonfaggot!