According to Merriam-Webster, this is the correct way to spell new-fangled.
That which displays newfangledness (also a real word, if you can believe it); meaning of the newest kind or style. A much more popular word than oldfangled. In fact, the etymology of oldfangled dates back to about 1842 which makes it a rather oldfangled term in its own right.
New"fan`gled (?), a.
1.
Newmade; formed with the affectation of novelty.
Sir W. Hamilton.
2.
Disposed to change; inclined to novelties; given to new theories or fashions.
© Webster 1913.
printable version
chaos
Everything2 Help