Fruit Loop

A gay guys asshole

Dude 1: your fruit loop is really sweet!
Dude2: thank you, isn't it tight?
Dude 1: it will not be after I'm done with it!!!!

The other fruit loop

To try, or just the other fruit loop is a common term used when talking about a gay relationship.

Guy 1: "I had never tried the other fruit loop before!"

Guy 2: "Do you want to try it?"

Guy 1: "I'm not gay."