During the Bush Jr. administration, George W. Bush followed the lead republican, Dick Cheney, into an economic crash. Damned the ways of The Parade of Elephants
In gay society there are several "social" rankings, much like traditional Hindu Castes, that form Homo-Society. At the top of these rankings is the classification Parade Gay. This means you are so gay that not only are you in the closet but the clothes in that closet are described as "fabulous". Put simply, you are so gay that you could be featured in a parade, hence Parade Gay.
Myles:"Dude I fucking lovethe band Queen"
Trey: "Bro Queen was super Parade Gay"
Myles:"No they weren't"
Trey: "Yes they were and therefore so are you"
When more than 2 guys stand or walk in a line with one hand up in the air, and with the other hand, they hold onto the boner of the guy behind them, in the same way a family of elephants will hold on to each other's tail with their trunk.