#1. A phrase used to describe the resent or displeasure one has to perform a task or assignment. Used to make such a task given more painful or agonizing than getting fucked by a rusty spoon.
#2. A term of excitement, surprise, or awe.
#1a. I'd rather get fucked by a rusty spoon than go out with that chick.
#1b. Mom: "Daniel, take out the trash and clean the dishes!"
Daniel: "I'd prefer getting fucked by a rusty spoon than do that!"
#2. Brianna: "I won a trip to the Bahamas!"
Will: "Well I'll be fucked by a rusty spoon, that's great!"