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1.
metaphor: overt, in-your-face racism / derivative of term ‘racial slur’ and 'Slurpee', an ice-cold flavored drink sold by the 7-Eleven company
We're often served a “reality sandwich”; and sometimes, it comes with a racial slurpee.
by elsquid May 19, 2013
 
2.
A racial slur that when said comes off as Campy, Witty, or Adorable to the extent that it is no longer considered racist.
Shirley Temple: "There sure are a lot of Niggers around here!"

Tyrone (The Black Man): "DAMN! That little racist is cute as Fuck!"

Jeff (Innocent Bystander): And that my friend is a Racial Slurpee.
by Brock Doody January 20, 2011