Cool, awesome — or good-looking.
Describes things ("che figo!" = how cool) and people ("è un figo" = he's hot). "Figa" for a woman is far cruder and best avoided by learners. Northern Italy says figo; the south often prefers "forte."
The feminine form is vulgar in a way the masculine is not. Not symmetrical — do not assume.
Reading a definition isn't the same as saying it to someone. Lingo Kaiava is a voice tutor set to Italian — it uses figo the way locals do, corrects you in the moment, and never "fixes" the way real people actually talk into textbook Italian.
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