used as excited utterance made when someone you don't know so intimately comes up and bites or pinches you on the nipple...
also used as general excited utterance, meaning something didn't go your way, or someone is being difficult and hard to please, or no one understands your plight in life...
also adj. to describe someone with any of the following qualities:
1) one who pinches nipples often
2) one who impedes others' progress
3) one who dates people in their peer group in rapid-fire order and leaves them wanting more, but always seems to be taken/unavailable
4) one who is incorrigible