Trap Queen

According to an interview with Fetty...

It's a loyal, smart, tough woman, who stayed by his side and was there for him during his hard times dealing drugs and was the inspiration for his song.

I can't post links. Google Vox interview with Fetty

Trap Queen

A "TRAP" is a house that doubles as a place where you deal, store, and package drugs; the proprietor's "QUEEN" is the girlfriend who helps him accomplish the latter. And in a broader sense, "trap" also refers to the idea of being trapped in the drug-dealing lifestyle and how hard it can be to escape it.