N. - A delightful mixture of the terms "interception" and its football slang equivalent "pick." Usually shouted at the top of one's lungs when one's preferred team has succeeded in "intercepting" or "picking off" the opposing team. Note also, that a certain level of fervent excitement is required to validate the use of this term.
Also see "sixpickerception," which is a pickerception resulting in a defensive touchdown.
Scene*Virtually sealing an appearance in Super Bowl XLII, Pittsburgh Steeler Troy Polamalu has just succeeded in intercepting/picking off Raven's quarterback Joe Flacco (really Baltimore, you used your first round draft pick on a kid out of DELAWARE?)*
"OH MY GOD OH MY GOD OH MY GOD PICKERCEPTION PICKERCEPTION!!!!!!! THE STEELERS ARE GOING TO THE SUPERBOWL!!!!!"