A slang term, likely derogatory or humorous, referring to a person who is extremely strange or unusual; a source or concentration of freakiness.
From 'freak' plus 'pot' (Old English 'pote', a container). The compound suggests something that holds or concentrates freak qualities, following the pattern of words like 'jackpot' or 'hotpot'.
This word is probably rare or dialectal slang—it shows how English speakers constantly create new compounds by smooshing words together, most of which vanish, but some (like 'hotspot') become permanent parts of the language.
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