When you're gay for Shrek.
Derrick: "Dang, Shrek is sexy."
Kate: "You're such a homoshrexual."
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Shrek a well known character from a children's animated movie series was secretly a raging homosexual hence the term "Homoshrexual" he is very handsome and rumor broke out that Shrek and his long time companion donkey had been caught in the swamp together. Shrek is an LGBT advocate and has probably won an Oscar. if you're gay and green and your ears are misshapen chances are you are a Homoshrexual.
Shrek, " where's me arse DONKEY "
Donkey, " you silly homoshrexual "