Evil Loophole Gun Show. A term of derision used to mock the craven rights-violators who call the free exercise of the right to keep and bear arms and the right to contract, to trade, and to fully own one's property a "loophole". The point of calling a gun show a loophole is to embed that lie into the public mind so that when the right to sell or purchase firearms at a gun show is outlawed by Congress it will not cause a revolution among the people.
"I finally got my AR-15 rifle today at an ELGS. You had best get yours if you want one before that right is infringed."
ELGS- Stands for 'Ever Lasting Gob Stopper' and means that the person will not blow a load when given head.
Will: Hi James how was last night?
James: I was an ELGS again man.
Will: Oh dude this is ur new nickname.