RORY: You know what I love most about Harvard?
LORELAI: No, what?
RORY: They don’t sell giant foam fingers.
LORELAI: No, they’ve got class out the wazoo.
Outsized hands cut out of foam are sports paraphernalia worn on the hand to show support for a particular team. They have been in use since the late 1970s.
The wazoo is American slang for “the anus”. To have a particular attribute “out of the wazoo” means to have it in abundance or to excess.