Warning: The examples contain some offensive words, but I believe that is not against the rules here?
Lately I've been listening a lot to a certain hip-hop album, in which almost every track uses a certain lyrical device a lot. Instead of trying to describe it further than I already do in the title, I'll go straight to examples.
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I've got bars for days, like a custody cell.
Source. The rapper is talking about two different types of bars. First his raps, then the physical bars of a jail cell.
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Every fucking album is banging like a Tinder-match
Source. He says his albums are "banging" as in musically pleasing, but in the sense of the Tinder-match, the word means sexual intercourse.
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I jam like a bullet stuck in the barrel
Source. When he says he jams, he means musically, while the bullet is physically jammed in the barrel.
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My woman puts on the rubber faster than a pit stop
Source. In the first sense he means a condom, in the second sense he means rubber tyres on a Formula 1 car.
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I'm harder to hit than a porcupine pussy.
Source. In the first sense he means "hit" as in some sort of attack or aggressive action, in the second sense he means sexual intercourse.
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I stay in the hood like Kenny
Source. In his own case, he means his neighbourhood, as in the slang term "hood". In the latter sense he is talking about hood as the part of a jacket that covers the head, referring to the fictional character from South Park who always wears a hood.
I think that amount of examples (there are countless more from the album, and from other rappers as well) is enough to convey what I mean.
What is the name of this lyrical device? I believe it is somewhat common in Hip Hop, and has been for decades. Does it have a name outside of Hip Hop as well, perhaps in poetry or literature?