Whether you pronounce it "vafancul", "bahfangool" or any of the other myriad variations, all roads lead to Rome (as the saying goes).
For a little more on this, our Don Malta's
Godfather Trilogy website has an educational page of foul vulgarities that may make you the life of the party (or, more likely, get you encased in cement):
X-Rated "Essential" ItalianLook under "culo". (Sorta sounds like a Stephen King book, doesn't it?)
Caution: The language is
quite vulgar, so consider yourselves warned.
Signor V.