Literally: Fear of wasps
Figuratively: Fear of WASPs
(For the uninitiated, WASPs are White Anglo-Saxon Protestants -- i.e., non-Catholic non-Jewish white people. The implication is that WASPs are snobby rich folk.)
Literally: "Every time a wasp flies near me, I run away."
Figuratively: "Every time a WASP comes near me, I walk away."