Term used by female fashionistas and/or fabulous gays to describe trendy, outlandish handbags which are oft the central demands on upper middle class suburban trophy wives Christmas wish lists.
Fabulous Gay: That Louis Vuitton Brentwood may be cute, but b*tch that Gucci Galaxy is one dime bag.
While this term usually references specific amounts of drugs for undergroundpurchase, AVN reviewer Guy Norhinf assets this to be slang vernacular for "condom."