Source : Webster's Revised Unabridged Dictionary (1913)

Highfaluting \High`fa*lu"ting\, n. [Perh. a corruption of
   highflighting.]
   High-flown, bombastic language. [Written also {hifalutin}.]
   [Jocular, U. S.] --Lowell.

Source : WordNet®

highfaluting
     adj : affectedly genteel [syn: {grandiose}, {hifalutin}, {highfalutin},
            {hoity-toity}, {la-di-da}]