1: Originated from the collective genius of random comedic masterminds Jorma Taccone, Akiva Schaffer, and Andy Samberg.
First seen on the "Awesometown" pilot. The group high fives each other all at once, at which point in time an explosion commences betwixt their hands.
2: A good way of knocking someone over, preferably off some kind of drop into a body of water. Must be done with a friend or more (two or more to explode another away) in order to make it a true Exploding High Five. For extra emphasis, precede it with a phrase, spoken in unison: "Thanks for coming back, *clap* *clap*, Exploding High Five!" Follow immediately with collective hand contact accompanied by an explosion noise via mouth power. Only to be used when one friend/acquaintance is being a duesch, jerkwad, jerkass, or some other such negative adjective.
1: Man, did you freakin see that? They just high fived each other all at once, and there was a freakin explosion! Their hands made explosion! What badasses! It was an Exploding High Five! And it happened on Television!
2: (whispers) -- "Hey friend no. 2, that friend no. 3 of ours over there is being a jerkass, don't you think?"
(whispers) -- "'Deed I do, friend no. 1. Whatsay we do something about it?"
(whispers) -- "Whatsay!"
"Hey, friend no. 3!"
"Hey, friend no. 2!"
"High five, friend no. 3!"
"Sure, friend no. 1!" (friend no. 3 raises arm with back towards theoretical body of water)
(friends no. 1 and 2 in unison) -- "Thanks for coming back, *clap* *clap*, Eploding High Five! *bloosh*"