Fray in archaic terms means to scare or frighten away. This is graffiti on a wall in Venice painted by Gorilla Spam. I think the intention is to scare away the tourists or at least show the tourists how they look to others. My interpretation; this is what tourists look like to the Venitians. Fat ladies hurriedly shopping for Gucci and Prada; map tucked in shorts and looking frayed, as in strained. Another definition of frayed! Enjoy another day in Venice!