Note: We all know Overheard in NY and what source of endless pleasures, bafflings and amazements is.
If we put enough material together it would be nice to have our "overheard in Italy" thing (what, it takes the whole Italy to have enough overhearding people on the internet here) so feel free to submit. We'll do the translation.
Because of the loud background noise of traffic on the streets here in moron Milan, we currently have only one-liners. Here's the first one.

An eterosexual Fashion Guy (i.e. not a stylist) and a black model at a café table in downtown.
He's showing her a book of photographies, giving articulate explanations when his telephones rings. The ring tone reproduces a loud neigh that makes everybody turn and look at them.
Black model: "Oh, no please! Enough with the horse!"