When one is insulting someone by making fun of how black he is, and how gay he is at the same time, but one can avoid the rule of being called a racist or homophobe because it is one word.
Mark Sherer is such a Faggernigget
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A Black man or woman who is gay.
Look at that Faggernigget over there with the blue hair
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To scream something very loudly
Bro I just did a faggernigget
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A slur for gay black people.
"I DONT LIKE FAGGERNIGGETS" said the racist man.
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A term used to describe someone who is acting in a way that is both gay and ghetto.
For example if a guy would suck dick for a piece of fried chicken he would be considered a faggernigget.