A standard insult used when someone is being a general dick, or acting like a fool.
Potentially used in occasions when someone makes a joke that's funny but makes you feel embarrassed to be their friend at the same time.
Also used in the film Borat 'Kill The Jewegg before it hatches'
1 - Why did the chicken cross the road?
2 - Dont know.
1 - It just did.
2 - Man your such a jewegg.