A former "glory hole" that has lost its elastic integrity due to age and/or overuse. When used in the metaphorical sense, it can also refer to a woman's genitalia that has become irreversibly cavernous.
Let's go to that corner dive, bro. It has that gaping Grace Hole in between the stalls that reminds me of the asscunt my wife never recovered from after our 7th child.
Person A: *trips Person B and hits him with his own backpack*
Person B: Why did you do that?!
Person A: Because it's funny watching you fall!
Person B: You're more then an a-hole.
You're an a-grade a-hole!
A sagging, open orifice on a person's body. Typically refers to a dumbfounded open mouth but can also refer to a gaping vagina or anus.
When I pulled out of her ass, I couldn't stop myself from pissing in her hilarious looking gapehole. She looked at me in shock and I filled her face gapehole with my excrement so as to stifle her attempt at a retort.