Used to describe a Little Caesar's Hot-N-Ready pizza that is undercooked or not yet ready to be served. Often the result of its extremely low price attracting a long line of dragon tamers, who put the underpaid staff into a position of serving undercooked pizzas.
Geoff: "You pick up that Hot-N-Ready??"
Mark: "More like Hot-NOT-Ready! There were 25 tamers before me in line and I still got my pizza in 30 seconds. This cheese isn't even melted."
Geoff: "Oh well, chances are we'll end up throwing half of it out the car window anyway"