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The f-slur is a nasty word for guys who don't act like meatheads or who like stuff that's not manly. It's a hate word and straight guys or fake guys can't use it or they're just being jerks.
Hey f4gg0t, why don't you go cry in the bathroom?
You're such a f4gg0t, you couldn't even lift a pizza box.
F4gg0t, I bet you're still wearing your glitter today.