1. slang To engage in aimless recreation or frivolous time-wasting; to fool around. A variant spelling of "futz around." We were supposed to be working on our essays, but we just phutzed around for most of the day. Would you stop phutzing around and do your chores like I asked?

2. slang To play, fiddle, or tinker (with something). A variant spelling of "futz around." Hey, don't phutz around with the thermostat—it needs to stay at 68 degrees. Grandpa's still phutzing around with that old radio, but I doubt he'll get it to work again.