In the most common context in the United States, the word portemonnaie is used to refer to an extremely large, feminine, extravagant, and overly gilded wallet in which a male uses. Most can fit keys and even cell phones comfortably inside of them. However, use of the word "portemonnaie" is always in a teasing or insulting context.
Markin: I got a new portemonnaie, yay!
Kirk: Very homosexual looking..