To go gay, specifically Lesbian. The term is really used to mean that you are becoming a lesbian from being straight.
Originally came from Kath and Kim (Australia)
Kath: Kim, I want you to know, I know that you've thrown your handbag in the river and I'm okay with that...
When the testicals are victoriously placed into the hand of a defeated foe
RJ- Yo B-randon you ever handbagged anyone on halo
B- Um, no the fuck is that?
R- it's like teabagging only on there hand
B- really? XD that's funny
R- yea i took a picture when i did it in your sleep! XD
B- 0.o
Sexual act: licking the gooch (taint) on a man.
See Netflix comedy London Hughes: To Catch A Dick.
Mate, she gave me a Gucci handbag during a blowjob last night.
A straight woman who enjoys the safe companionship of a gay man.
I'd rather be called a happy handbag than a fag hag.It sounds so derogatory.