poof (n.1)

c. 1200, puf, puffe, perhaps from Old English, pyf "short, quick blast of wind; act of puffing," from puff (v.). Meaning "type of light pastry" is recorded from late 14c.; that of "small pad of a downy or flossy texture for applying powder to skin or hair" is from 1650s.

From 1560s in the figurative sense of "empty or vain boast;" the meaning "flattery, inflated praise" is recorded from 1732. Derogatory use for "homosexual male" is recorded by 1902 (compare poof (n.2)).