"Travesti" refers to a transvestite or cross-dresser, someone who wears clothes typically associated with the opposite gender for various reasons such as sexual pleasure, expressing their gender identity, performance art, or other personal reasons.
In this context, "versatil" is likely derived from "versátil", which means versatile or able to adapt easily to different situations in Spanish. So, a "travesti-versatil" tag can be understood as a video involving a transvestite character who is versatile or has the ability to take on various roles, personas, or activities throughout the scene, often including elements of both masculine and feminine presentation. This could involve clothing changes, roleplaying scenarios, or other performance-based expressions of gender identity or sexual desire