As adjectives the difference between faggy and raggy
is that faggy is (pejorative|informal) effeminate; homosexual; gay while raggy is raglike; like a rag.
faggy
English
Adjective
(er)
(pejorative, informal) Effeminate; homosexual; gay
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raggy
English
Adjective
(er)
raglike; like a rag.
scruffy; tending to dress in rags.
Similar in style to ragtime music.