Variation on going to "Hold My Breath Till I Turn Blue" as a response to waiting for something to happen which is most likely never going to happen
Dude #1: I totally have a shot at this cocktail waitress chick
Dude #2: You so do not have a shot at that chick. You might as well hold your breath till you turn gay.
Dude #1: Hold my breath till I turn gay?
Dude #2: Yeah start holding your breath now, cuz here she comes over to our table....
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