When a poem, story or book is good in too many ways to concisely describe, it is said to be 50 Shades of Fabulous.
Exactly the opposite of 50 shades of gay, this phrase is quite often used when in the throes of fangirling.
Mark: Have you read the new book about..?
Ben: YES. It was 50 shades of fabulous!
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When something is so gay (here meaning 'awful') that it cannot be defined in terms of anything other than the most awful thing to happen to literature this century.
Most often applied to books, bookish people or book-related things.
Louise: Did you read that poem Martin sent you?
Una: Yeah, it was 50 shades of gay.
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