The septum ring is a piercing through the septum, in-between the nostrils. Contrary to some beliefs, it does NOT go through cartilage, it goes through a soft area called the “sweet spot”.
Person 1: I’m thinking about getting a septumring.
Person 2: I say go for it, unless you’re afraid of needles
The Septum Ring Theory is the social observation and slang that finds a pattern between women who wear septum piercing and a certain set of personality traits like being chronically online and holding exaggerated leftist views.
It's frequently used as an insult in comments of sexist / misandrist women who try to disguise their hate as "wokeness" or social justice.
There's an alternative definition that was later created by people that felt called out by this slang that claims it's the theory that some men dislike women with septum piercing because you need to be over 18 to legally obtain it.
Boys who enjoy yaoi (a genre in Japan that contains sexual and/or romantic relations between two men); literally translates to "rotten boy"; corresponding female : fujoshi