A portmanteau of straight + faggot. Sometimes abbreviated as "
strag".
It is a deflective term used by gays that refers to (usually) homophobic straight males, but can also be used broadly to describe any bigoted, basic or belligerent
straight person who is
painfully straight.
Example:
Janis: "Regina is
too straight to function. Is this her third boyfriend this week?"
Damian: "She's been acting like a
straggot ever since Shane Oman dumped her. She threw twelve
dodgeballs at me in gym class yesterday. I counted."
Cady: "
Straggot? What does that mean? Regina is a straggling goat?"
Janis: "You're so hopeless, Cady, it's adorable."