What is O-fay?
1.
punk cracker bitch
See
2.
Punk Cracka Bitch
Comes from Snoop Dogg meaning a Faggit ass white person.
Black Person to White Guy- U fuckin o-fay
3.
punk,cracka,bitch
I'ma pop dat O-fay if he keep on calling me a monkey
See
4.
understood
If one were to say "is that o-fay?" they'd be asking if that was understood. I'm fairly sure it's not spelt like that, though. Often used in a sarcastic, slight threatening way.