An abbreviation for "family" that can be used to refer to one's blood relatives or close friends. Despite the plural connotation of "family," it can also be applied to an individual. I'd love to go out tonight, but I'm having dinner with the fam—my mom's making her famous meatballs! Of course I'll help you, fam. You're my best friend!

Everyone in one's family. A playful and deliberate misstatement of "whole damn family." Wow, your whole fam damily showed up to the school recital! Sure, bring the whole fam damily—why not?