If you know this phrase then your probably on the phone with Luigi right now. He seems to use this to deflect the awkward of notion of looking down and seeing his unfortunately small sized man junk. He thinks this this phrase is whimsical and funny. However as fasicious as it may be it is unsanitary to talk on the phone while defacating, and rude to talk to anyone while in the act of pushing feces out of your ass.
Cole: *answers* Hey
Luigi: Hey what's up?
Cole: Just got home, you?
Luigi: I'm in the Office
Cole: Why the fuck do you always call me when your taking a shit.
Luigi: *thinks to self* "i have small man junk"