1)A derogatory term for a transsexual woman, which implies she isn't a "real" woman. It is most commonly used in porn for straight cisgender men; also used in dehumanizing trans women
for joke or violence.
2)A term used to insult a
cissexual/cisgender person by implying that ze is a
trans woman.
3)An affectionate term for any trans-identified person; language reclamation from 1st term. Most commonly used by young trans people, especially
trans men & masculine genderqueers, among whom the "language reclamation" use started. Trans women have argued that this use of the term is appropriation, not reclamation, as the derogatory use of the term has almost exclusively focused on women, yet 'reclamation' efforts have largely been steered by men.
1 & 2--see "definitions" by "mike" (and variants).
3)Hey, did you hear, the Tranny
Roadshow's playing at Genderblur tonight!
I thought this was a queer/trans dance. There's, like, three
trannies here. They don't even have
gender neutral bathrooms!