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Three dolla bill 

Something/someone fake. / Limp Bizkit's most badass album.
Example 1:
Person 1: Mary cheated on me...
Person 2: Always knew she was like a three dolla bill.

Example 2:
Person 1: Favourite Limp Bizkit album?
Person 2: Three Dolla Bill.
Person 1: Valid.

gayer than a three-dollar bill 

Not just any homosexual male but one that makes a huge show of their sexual orientation and makes it very obvious what their tendencies are.
gay guy: Heyyyyyyyy boo! you look FABULOUS!
straight person: He's gayer than a three-dollar bill!

queer as a three dollar bill 

Older term that means extremely strange but is usually heard in reference to a gay person. There never was a three dollar bill...thus the rarity.
Hey Rufus, whatever happened to that guy down the street who always wore pink?

I dunno Henry, he was queer as a three dollar bill!

three dollar william 

1. Butt lovin', cum drinkin' fag of any name. It's a sneaky way of saying that someone is "as queer as a three dollar bill".
Me: That guy's a regular three dollar william.

My Imaginary Girlfriend: Oh, that's why he smells like ass.

Me: He also has dried up cum on his nose, just like you this morning.

My Imaginary Girlfriend: Yeah, I like that a lot!!!

Three Dollar Bill 

Noun (Slang) A euphenism for homosexual, generally a male homosexual. Compare to "Light in the Loafers", Limp Wristed", "Panty Waist", or "Candy Ass"

three dollar bill 

That watch is as fake as a three dollar bill.