When you have something going for you that you decide to destroy by making terrible life decisions and choices.
Brett Favre played for the Green Bay Packers for 16 seasons, and broke numerous records. Favre then retired happily (and made the cover of many magazines), but came out of retirement before the next season. Brett Favre then pulled a Favre and signed on with the New York Jets.
Leaving your wife for some tramp you met on the corner who ended up burning
you. Your mother then let everyone know "you pulled a Favre".