literally means homosexual, as in you make your wrist limp when you talk and you say "OMG NO WAY" alot.
Jason's always a drama queen, I swear he's limp wristed.
A panzy, a bitch, a ginger (not necessarily with red hair). This can be a man or a women and it has no specific race, religion or creed. Its a simple word to describe someone weak or pussy. A whimp.
Dave- "Dude, this shit is hella heavy."
Bob- "Stop being such a limp wristed bitch!"