Gazpacho is a kind of tomato soup. In this song, Steve Hogarth
sings:Did you carry out those threats I heard
Or were you only playing macho?
And the stains on her Versace scarf
Were they really just Gazpacho?
This is a vague reference to the O.J. Simpson trial, which was the big news story around the time the song was written. In the trail, the American football star was accused of murdering his ex-wife Nicole Brown Simpson and a waiter named Ronald Goldman. Despite blood evidence pointing to Simpson, he was found not guilty in a trial that garnered massive news coverage.
Gazpacho never factored into the case, but it's a great word to sing, letting Hogarth flex his vocals a bit.