1. (noun): an insult so harsh, that it is both freezing and red hot. Often used sarcastically, like after "your mom" jokes.
2. (verb): to insult in the manner described above.
1. Bob: "I was playing Madden 2007 last night."
Steve: "I was playing with YOUR MOM last night!"
Bob: "Ohhhhh, ICE BURN!
2. Steve: I totally ice burned you back there.
Bob: Yeah. Totally.