An alternate way of saying "I don't like this situation!"
The same as Kill Me, which is usually never taken in a literal sense and only used to express the frustration of a current situation.
Teacher: You got a ten!
Student: Out of ten?
Teacher: Out of two-hundred!
Student: Kill myself!
The common quote said after one performs a blasphemous act, therefore embarassing him/her self.
George: Yo we're going the wrong way.. where's my house?
Non-Idiot: Your in it.
George: Oh god. Kill myself.