A person, usually homeless, who is not necessarily straight or homosexual, just desperate. Not in relation to the song, it was developed after noticing that although no one of a socially 'normal' status would hit on him, the homeless population seemed to love Rabbit. Hobosexuals are basically just desperate for affection.
Hahaha! Did you see that hobosexual hit on Rabbit? I can't believe he took him up on it! What a bellend!
by Smackababy September 03, 2007