Meaning:

“土豪,” which used to mean “rural landlords” in recent history, now refers to the wealthy but tasteless new rich who live extravagant lifestyles and flash their money, and “金” simply means “the golden color.” The term, coined by Chinese netizens, originally referred to the color of the golden 5S and 5C iPhone models that came out in 2013. Previous iPhones were exclusively white and black, and the new golden iPhone was an instant hit with Chinese consumers. With the golden ones selling out just one hour after presale began, prices soared for the new product in the second-hand market. A color symbolizing status and wealth, the color gold was thus given the nickname “rich guy’s flashy gold.”

Example:

A: 听说小李买了辆新车。

Tīngshuō xiǎolǐ mǎi le liàng xīnchē。

I’ve heard that Xiao Li got himself a new car.

B: 是的，颜色是土豪金。

Shì de，yánsè shì tǔháojīn。

Yes, indeed, and in a flashy golden color.