Taken from the movie "Bowfinger", it's the moment in the movie where the good guy gives a gesture of triumpant defiance to the bad guys who have lost or are just about to lose.
"Peace!" - Will Smith launching a nuclear bomb on the aliens in ID4.

"You're terminated f**ker!" - Sarah Conner killing Terminator in Terminator 1.

"Hail to the King, baby!" - Bruce Campbell after killing a deadite at the end of Army of Darkness
by D. Arse June 30, 2005

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