The term "eleganxia" is a combination of two words: "elegance" and "xia," which means it refers to a type of pornographic video that showcases an elegant or classy style. In this case, "xia" could be referencing Chinese culture, specifically referring to the term for young, good-looking men.
So, this tag can be interpreted as a sophisticated and classy gay porn video featuring handsome and stylish young men.