Refers to when a person with a big nose gets 'owned' in a computer game (Defense of the Ancients, Warcraft 3: TFT). This creates hysteria and people constantly cry this phrase until the person with the big nose is 're-spawned' or is somehow back in the game.
Michael the ugly shit cunt just got owned !! BIG NOSE DOWN !!
by Michael OConnor December 22, 2007