FagIn American English, the term "fag" (a variant on faggot) is a largely pejorative term for male homosexuals.
Its use for male homosexuals originated in the US in the early 20th century. As with the use of "nigger" within some black communities, the word "fag" has to some extent been reclaimed by the gay community. Some homosexuals use the word to one another without any derogatory implication. For example the term "Fag hag" is often used by male homosexuals to describe their female friends.
American teens have adopted the term as a generalized term of derision. This would seem to be related to the similar usage of gay, but the usage of fag seems to be more obviously tied to the sex/gender issues than does gay.
In British English, "fag" is used as a colloquialism for a cigarette, as in "I'm gasping for a fag", or "where can I get some fags?".
"Fag" meaning cigarette, came from the original word - "faggot" which is the word for a bundle of something combustible on the end of a stick - also known as a torch, like the olympic torch.
Also in Britain the word "fag" is used (as a verb and a noun) to refer to a kind of apprenticeship practiced within public schoolss. Younger boys within the school fag for the older boys by cooking breakfasts, cleaning sports kit or other menial tasks. Casual violence and bullying are sometimes associated with fagging in the popular consciousness. This practice has now largely died out.