I've never been a big spender, but that doesn't mean I'm cheap. To me, frugality is knowing the difference between shiny (but ultimately worthless) trinkets that may occupy your attention for a week, and true value.
True value for me are things like
Shoes that last a long time and quality clothes that you'll wear for many years
Healthy, nourishing food
Spending time and enhancing your relationship with friends and family
Now, if I had more money that I know what to do with, then I may just splurge on a brand new car, or an expensive holiday. But until then, I'll be a happy, contented Frugan.