A derogatory term for calling someone; specifically a male; a homosexual that likes to "suck baloney" which means that they like giving young underage men blowjobs for free.
Yo that faggot over there is such a Baloney sandwich! He keeps on flirting with all the dudes!
YO dude! You see that Taco in our aerospace AFROTC class? I hear she got past the medical even though she was a disqualifier.