When someone goes into the red light district of Amsterdam and pays for a transsexual instead of a female prostitute. Transvestites have blue lights as opposed to red lights over their windows, hence the name blue light special.
Taylor -"Hey Brad how was last night in Amsterdam?"
Brad-"It sucked, I payed for a hooker and she had a dick."
Taylor- "Man you got the old blue light special you dirty sailor."
When someone named chris (christopher) quits or loses hope. It is the equivalent of throwing in the white flag and admitting defeat. This is for the weak minded who tend to stay away from challenges and obstacles.
I was beating his ass in Fifa and he threw in the Topher towel.