Mr. Garrison: Well, they can't use "f*g." Because you can't say "f*g" unless you're a homosexual.
Randy: Really? So we can't say (beep)?
Mr. Garrison: No. See, you got beeped.
Man 7: You mean you have to be a (beep) to say (beep)?
Mr. Garrison: That's right.
Jimbo: Hell, that's not fair! I should be able to say f*g.
Randy: ...Hey, you didn't get beeped.
Jimbo: Uh oh.
Mr. Garrison: Well well well! Guess we learned something new about you, Jimbo, you freakin' f*g! You wanna make out or something?"
Mr. Garrison: And so, children, instead of saying "Hand in your papers," I may now say "Hand in your shit." Any questions?
Filmore: What about, "I have to take a shit"?
Mr. Garrison: NO! NO, Filmore! You can say "I have to poop and shit," or "Oh, shit, I have to poop," but NOT "I have to shit." Are we all clear?
Kindergartners: No.
Mr. Garrison: Look, it's all about context. Well, for example, recently, I have come out and admitted that I was a homosexual. I'm gay. That means that now I can say the word, "f*g." On television they usually don't allow "f*g." But because I'm gay, it's alright. And with the new approval of the word, "shit," that means that finally I am free to say,
Hey, there, shitty shitty f*g f*g,
Shitty shitty f*g f*g, how do you do?
Hey, there, shitty shitty f*g f*g,
Shitty shitty f*g f*g, how do you do?
~pleased~ Oh this is great!
Man 6: ~bumps into Garrison~ Oh, shit, 'scuse me. ~walks away~
Mr. Garrison: Hey, watch it, f*g.
Man 6: ~stops and backs up~ What did you call me?
Mr. Garrison: I called you a f*g. Because I'm gay, and that means I'm free to use the word "f*g." So piss off, you f*g-shitter! ~[/I]laughs and walks away[/I]~
You can learn everything you need to about the word f*g from South Park episode 502 "It hits the fan"