An expression of desire to vacate a premises immediately due to said location being or having become intolerable for any reason.
"They're playing Dixie Chics? Fuck this noise! We're leaving."
"We're outnumbered 6 to 1 and under heavy fire. Fuck this noise! RETREAT!"
First known popular culture reference is when Dan Ackroyd used the phrase while being beaten by the "Penguin" in the 1980 film The Blues Bros.