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2.
In any activity if one wins unfairly or portrays the way Michael Phelps won his seventh gold medal in the Beijing Olympics.
In a video game:

Jon: HAHAH! I WON!!!

Molly: No, i won. Look, i shot you by 100th of a second!

Jon: Maaan! you just totally Michael Phelpsed me!
by Kaorusnanx3 August 18, 2008
 
1.
When someone rips a huge bong and clears the whole thing in one hit.

made up from michael being able to hold his breathe a long time underwater.

...especially with the marijuana picture that was circulating across the internet.



Holy shit! Jimmy just totally "michael phelpsed" that 6 foot bong!!!
by Cameron mk2core February 18, 2009