Some thing you yell at someone to get there attention or to just be plain obnoxious
Oi! Oi! Oi!, COME LOOK AT THIS.
A person who thinks he is hot shit but is really under-average
or
When a person is trying way to hard to impress people who really dont care
Man 1: Damn, Devon is such a fuk boi.
Man 2: Why's that?
Man 1: Because he is wearing my little pony shorts.