Today’s Rhymes With Orange, with a portmanteau:
That’s despair + asparagus. This is a stretch as a portmanteau for me, because the accented vowels in the two contributing words are distinct for me: [e] in despair, [æ] in asparagus. For me and some other American speakers — and for virtually all English speakers outside of North America. But for other Americans, the vowels are quite close (with [ɛ] in asparagus) or identical (with [e] in asparagus). This is merry-Mary-marry territory.