This porn video tag refers to a specific type of anal play in adult content. "Gaping" describes the wide opening or stretching of the anus, often achieved through physical manipulation or the use of toys and props. "Loose" indicates that the anus is more relaxed and open than usual, either naturally or due to sexual activity.
So, "gaping loose asshole" refers to a scene in which one partner has their anus wide open and relaxed, possibly through manual stretching, use of sex toys, or other sexual activities. This tag is meant for adult audiences who are familiar with such content, as it specifically pertains to anal play and the visual aspect of an open and stretched anus