Term coined by Beavis and Butt-head, refers to music in the 80s and 90s that was somewhere between alternative and artsy-fartsy, usually involving pretentious lyrics, too-artistic camera shots, and whiny or disinterested vocals. This music evolved into Indie Rock.
From the show:
The Flaming Lips
The Dead Milkmen
... and many others
Beavis says "Hey Butt-head those houses look fake" to which Butt Head replies "Yeah that's like the whole point of college music, to make the suburbs look bad."