First of all, it is YIDDISH, not Dutch or Swiss-German. (Swiss-German? Where did that one come from?) It means: "Woe is me" and is an expression of surprise, unhappiness, and disgust. And as for all you Deutsch-and Schweizers: Du verdammter idiotes! Ja, du kleine scheisse! Das ist Yiddish! YIDDISH! (the grammar may be wrong, I don't spreche that well)
Now that I'm done ranting (Oy vey! Did I really just say all that?) I can say one final thing. To all who think it's French, German, or Dutch, you are a shanda far di goyim! Thank you.
1. "Oy vey. You're all idiots"
2. "Oy vey, slow down, you're going too fast!"