a fancy way for calling people a whore, also when used on a man it is calling them a whore and fag at the same time thus attaining the coveted "double whammy"
Person A: Man, Elton John is such a dick mistress.
Person B: He's a fag alright but how he is a whore?
Person A: Dude it is obvious, have you not seen those revealing sunglasses he wears.
A Meta-Morph Mistress is your girlfriend on the side, who can change into what ever fantasy you can imagine. From a Honeymoon Honey, to a Porn Star Paramour, or an Elegant Seductress, she is THE uber GFE!
Jack: I heard you got a new mistress.
Me: Yup, Reagan. She is a Meta-Morph Mistress!
Jack: Meta-Morph? WTF is that?
Me: She morphs into your wildest fantasy . . . girlfriend, lover, or companion.
Jack: That's wild!
Me: Yup, she even morphed me!