(verb) a phrase used mostly in online queer communities, specifically Twitter, to refer to hanging out with someone that one deems iconic, fashionable, or otherwise interesting. It is usually employed in response to an image posted of a celebrity or cultural icon. One would normally use this phrase in the future tense - to express their desire to hang out with that celebrity in the future, rather than expressing it in the present tense.
*Tweet of an image depicting Margot Robbie on the press tour for Barbie (2023)*
Twitter User 1 (in reply): ugh, NEED to queen out with her …
Twitter User 2: purr! I’m QUEENING OUT with Bella Hadid right now!
Twitter User 1: you mean you’re just “hanging out” ..? it made me feel weird that you said that phrase in the present tense ..