Bartender: Sorry, guys, there's four of you but only one stool. Guess you'll have to go someplace el-
Homosexual 1: Let's flip for it!
Homosexual 2: No, let's flip it over!
Homosexual 3 & 4: Yay!
Bartender: Get out, globbits! You're barred!
Quite literally, a gay hobbit. People thought a number of hobbits in the Lord of the Rings trilogy were gobbits. This is untrue. Most of them were bisexual.
Blobbity Globbity, or "Crotch Fat", applies to people who have an otherwise fit/attractive body, but have a roll of jiggily fat between the stomach and thighs, where the only phrase that can be used to describe this humurous misfortune is Blobbity Globbity
"so you fucked Brian? How was it?"
"gross. he had so much blobbity globbity i almost puked"