Fleto

Fleto and Fleta are Chilean slurs used to describe homosexual men and women respectively, although it's also used against transgender, gender non-conforming, and multisexual people regardless of their actual identity. Despite its offensive nature, this word has been reclaimed by some queer individuals in an effort to take away its power. It's not meant to be used towards anyone who hasn't consented to it personally.

Similar terms include: cola, maricón and hueco/a.

Pronunciation
"Fleh-toh", "fle-tah".

History
It is unclear when would the word fleto appear in the Spanish language, but some of the earliest internet records of it appear in 2008 and 2011.