Similar to a pink sock. It is made when someone puts one hand in a girl's vagina, and the other in her anus. The person then grabs hold of the intestines, and gives a pink sock from the front and back. It can also be made when a girl is getting double penetrated. It is a pink shirt because there is more pink material than in just a pink sock.
Whoa d00d, i double-fisted that girl last night, and i gave her a pink shirt when i pulled my hands out too fast!