To tell a story that is highly built up, but then becomes an epic fail. This often occurs when you are around or in the presence of Karissa, but may also occur from your other friends, peers or family. When such an incidence occurs you must inform the story teller of their Karissa story telling abilities.
Telling the story teller of their Karissa story is essentially synonymous with the term used and "Did you find five dollars?"
Veronica: So one day I was eating a sandwich, and then I dropped it on the floor. You: That was a Karissa Story!