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The white and pink elephant in the room 

A costly and troublesome hallucination which nobody wants to mention.

It's also an intentionally confusing combination of the expressions "white elephant", "pink elephant", and "elephant in the room", which are now being conflated on the internet.
K: It was the pink elephant in the room.

B: You mean "elephant in the room"
K: No, I mean pink elephant in the room
B: I don't think that's a thing.
K: So what's a pink elephant?
B: Maybe I'm confused with a white elephant?
K: googles it
K: Look! It's on Urban Dictionary! I win.
B: This is the white and pink elephant in the room.
K: I think you're hallucinating.

peaches and pink hearts

A way of describing a mushy boyfriend, i.e; one who likes watching sappy romantic chick flicks with his girlfriend and cries at the end.
Guy 1: Dude! Did you hear what <insert name here> did last night? He was watching Sex and the City with his girlfriend!

Guy 2: Really? I thought he was cool. Didn't pin him to be the peaches and pink hearts sort!
peaches and pink hearts by TopRaman November 21, 2011

mr. pink and purple

a penis. usually a cold, underwater penis.
Danny went swimming and the water was so cold mr. pink and purple was microscopic!

2 in the pink and 1 in the stink 

When a person, inserts 2 fingers into the vagina, and inserts 1 finger into the same womans asshole. Also can be represented as a hand gesture , same as the rock on gesture but with the middle finger up aswell.
Oi man remember that chick i hooked up with at that party..dumb bitch was so drunk i put 2 in the pink and 1 in the stink..haha she loved it

two in the pink and one in the stink 

Manual hand stimulation of the female genitals and anal area whereas two fingers are inserted into the vagina (pink) and one in the anus (stink).
Sara likes two in the pink and one in the stink before sex.

pink and stink 

the act of using the pointer and middle fingers in the twat and the pinky in the anus to satisfy a woman
as she lies on her back she tells me to give her the pink and stink
pink and stink by mike e boy September 25, 2005