Best definition
An adjective describing one who is a preppie / chauncey.

Oh damn, why is Loafie on the roof with a pitchfork?
Loafie: define #2
a nicer way of saying “shitty”. In reference to the term “pinch a loaf”, where the “loaf” is a turd.
Bob: Oh man, I just crashed my new car because I was busy watching “Too Fast, Too Furious” on the dash-mounted DVD player…

Neil: Dude, that’s loafie. Also, that movie is gay. Fag.

Loafie: define #3
someone who is your rock and is always there for you,

someone sweet, kind and generous
Awww Loafie!

Some people have a rock, I have a loaf – they are much softer to fall back on

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