1. Of the fist. Fitting in one's hands.
2. Of a fight or dispute.
3. A dagger
Knife used by Gauchos later Porteños in Argentina. One sided stabbing knife used for street fighting-characteristically used blade side up. Part of Argentine Tango and fake Apache Tango mythology.
Metaphorically, the term refers to a sneaky homosexual male who you can't turn your back on because he has a queer eye for straight guys. He may "back stab you with his poison tipped daggar" if you turn your back on him, or bend over for soap. It's a funy combo of clashing imagery.
The term could be used to describe the qualities of a jailhouse rapist who will nail you if you bend over for soap in the shower.
You wretched nigger faggot rapist!
Piñal marica puñal!
You wretched little sissy faggot rapist!
Piñal puto puñal!
You rotten wreched jail house boy faggot rapist