Buddy: Nothing. Where were you last night? I called you, but you didn't pick up your phone.
You: I was banging the queen
You: I was banging that chick with no legs
Buddy: You banged that chick in the wheelchair?
Buddy: Nice man. She is hot. No legs though, but still hot. Great Story.
Origin: references the Queen Elizabeth II of England. No rational man (or lesbian) would want to have sexual intercourse with this women, but upon learning that she is the Queen of England, she becomes instantly worth sleeping with. Why? Because you could tell people who you just banged. Can be applied by women as well (porking the prince).
Guy 2: Gross, man. She's all fat and nasty now.
Guy 1: But it'd be worth it. You'd totally banging the queen if you did.