Often used hand in hand with a phrase such as "Squirely" "Cheese-tacular" or "Supreme, brain imploding"
People who say "Random" a lot liek this word. Because It's fun. Now fear me and my UBERLY-PWNING-MUFFIN-DOOM!
"I'm gonna kick your ass at Quake today, you'll be crying for your mamma"
"Oh yeah? WELL WHY DON'T YOU TASTE A PIECE OF MY EXTREME ROCKET LAUNCHING DOOM!"