A pun on the name of Greg Louganis, the openly gay American Olympic swimming champion. Loose Anus refers to the tendency of a homo-sexual mans butt-hole being adversely affected from obvious misuse. A good funny name to call anyone who might be or appear to be gay, Greek or a swimmer.
"Good show at the swim meet 'ol chap, maybe you'll be the next Greg loose-anus"
by bonedigger February 11, 2013