Usually it's spelled 'bougie' cf. https://www.merriam-webster.com/dictionary/bougie

Unfortunately the slang tends to refer to acts or items that are expensive, rather than, y'know, class relations or members of the French Third Estate.

Yes, I think it's actually out of vogue now, but a few years ago it was trendy to describe things as bougey:

bougey

(pronounced: boo-G) a condensed version of the word bourgeoise, used to refer to capitalists, the upper class, gaudiness, and profit-oriented viewpoints

http://bougey.urbanup.com/4157958

Yes, and as far as I can tell, relatively new. I learned it from my middle school child last year.