Green’s Dictionary of Slang

marge n.2

[pun on abbr. for margarine/the woman’s name and the fact that it/she ‘spreads’ easily; note margarine legs n.]

1. a promiscuous woman.

[UK]Roger’s Profanisaurus in Viz 87 Dec. n.p.: marge n. A loose woman. From margarine – ‘spreads easily’.

2. (S.Afr. gay) a promiscuous gay man.

[SA]K. Cage Gayle 81/2: Marge n. gay man who has a reputation for being easy to get into bed [from margarine which spreads easily].