After blowing up a balloon, it is the act of releasing the balloon from your grip and letting it flyaround the room deflating itself...hence making the "Ploogled" sound.
Jayme: "Here, hold the balloon tight"
Cort: "Oh no, I let go"
Jayme: "Shit, you ploogled it!"
Balloon: "PPFFFBBBBFFSHHH"
Jayme: Ha, its ploogled.
A stripping game played in a car. When a car with a faulty headlight passes by you slam your fist on the roof of the car and shout "padoodle." The last one to shout padoodle or not shout it at all must remove an article of clothing.