The key point here is deniability but definite if subtle understandability--words or gestures that can be explained 2 ways. Originating and still much used in marginalized or disenfranchised populations (gay folks, Black women). Here's a NY Times Magazine article explaining it with some terrif examples:
http://www.nytimes.com/2015/05/17/ma...he-insult.html Unfortunately like everything else mass culture (for which read, "Cauc culture") gets its hands on, it's being ruined (subtlety lost, etc.).