When two mates have a mutual understanding to laugh at each others jokes, no matter how lame or awkward said joke is, therefore lessening the social failure of the bad joke.
I was talking to some girls the other day when I cracked a 'your mother' joke. Luckily, I had joke insurance with Chris so I still ended up getting both their numbers. All Chris got was a weird look for his over-the-top laugh.
The euphoria and/or superiority experienced by one using long or uncommon words around peers to make them seem more intelligent. Can also refer to the same sensation felt by one who understands these types of words when they are dropped into conversation.
When I managed to use the 'Dictionary.com' word of the day while talking to my mates I antidisestablishmentariagasmed.
Although my doctor told me I had that I had the fatal disease, 'acquired immune deficiency syndrome' I couldn't help but have a small antidisestablishmentariagasm because I knew that he meant AIDS.