A common exclamation used as a substitute for Holy Shit to describe an exiting, ridiculous or unbelievable event. It's a very popular amongst those who avoid cursing. It's similar to other curse word substitutes like Holy Cow or Holy Schnikes .
Holy Canoli did you see that one-handed touchdown catch to win the game?
An exclamation, when your numpty cousin john's kids are around and he doesn't want you swearing in front of them, but you just stubbed your toe so flipping hard and you gotta react in some way, but little timmy is two feet away and john is looking right at you so you have to say them that gets as close to the satisfaction of yelling "FUCK" really loudly after stubbing your toe but- ... what was i talking about?
It is said of the situation where a person has the bad luck to make contact with his testicles against an undefined surface or object, intentioned or not.
Given the nature of the word, it is more appropriate to design cases where the interaction is made with a moving object, for example, a ball.
Although it is extremely painful for the victim, it tends to be considerably funny to people who witness it.
Today in the baseball game the pitcher took a nutshot; the baseball hit him in the nuts.
Man, I just watched the funniest nutshot video ever.