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1.
noun, portmanteau of DEFCON and derp.

A measure of the retardation and/or general incompetence of a given situation, often to the point where the whole thing becomes unintentionally hilarious. Things subject to DERPCON measurements include but are not limited to sporting events, presidential elections, business meetings, and weddings.
The 2010 Tennessee-LSU game reached DERPCON 1 when Les Miles called a QB keeper with 30 seconds on the clock and no timeouts.
by JB1187 April 02, 2011