Green’s Dictionary of Slang

King Lear adj.

homosexual.

1958		(con. 1940s) B. Behan Borstal Boy 370: Oh kip in [...] I reckon you’re King Lear.
1985		Wheeler & Broadhead Upper Class Rhy. Sl. 43: Looks like ’e’s King Lear, to me.
2003		B. Dark Dirty Cockney Rhy. Sl.