(verb) an epic fail. A more polite way to say 'douche' if you're in mixed company. Being unprepared, relying solely on your pressumed good looks to get you by in a public appearance. Humourless. Substituting racist or questionable remarks instead of jokes in public speaking. Being a douche. Having no class. Coming across as uneducated. Bragging about material things to come across as more important than what you are. Trailer trash.
Coined especially by the Jersey's Shore's Mike 'the Situation' who especially bombed in Dancing with the Stars, despite being prepared, and at Donald Trump's Roast where he clearely wasn't prepared and slurred racist remarks and zero jokes, substituting his Jersey Shore persona for humor.
You can take the guy out of the trailer in Jersey Shore but you can't take the trailer from Jersey Shore out of the guy. He's nothing but a situation.