A term used to describe a very beautiful woman. A compound word, made up from two separate slang words, combined to create a stronger description. Chicken, being a word evolved from the previous slang "chick", used to describe a beautiful woman. And Fachetti, which is used basically to emphasize the meaning of the previous "Chicken".
Dude, check out that Chicken Fachetti!
Woah man, she is hot!