What is Banana Wallet?
1.
A euphemism for vagina. This word finds its roots from other terms such as: banana hammock, banana basket, banana guard, banana of love, and banana wanger. Once this term has been established among friends, “wallet” may be used for short to prevent awkward questions from those who are not privileged enough to know the true definition.
"Man, I want to get into her banana wallet."
Once established: "I am going out drinking and wallet shopping."
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This is a major insult only used when one has run out of the normal insults and needs something that will incompass all of the other ins..