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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...
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.