The word "放荡不羁" is formed by combining four characters: 放 (to release), 荡 (to wander/unrestrained), 不 (not), and 羁 (to restrain). The first two characters, 放荡, together convey a sense of being uninhibited or dissolute, while 不羁 literally means "not restrained". When combined, the phrase literally means "released and wandering, not restrained", figuratively describing a person who is free-spirited, reckless, or morally unrestrained.