Fig jam. A jam made from figs. Pretty self-explanatory, really. I've never tried fig jam, myself, but I've tried a fig and they don't agree with me at all.
Another, hidden meaning behind the words used as an acronym (to wit: F.I.G.J.A.M.) is "Fuck, I'm Good. Just Ask Me." Translation: One who has their head up their arse, which is OK because they're the only person who would love them. Many a F.I.G.J.A.M. has been created in those awkward teenage years. Unfortunately, a great deal of them never calm down.