Quick Time(r) Event. found in SEGA dreamcast game shenmue and "shenmue II"
buttons (A, B, X, Y, up, down, left, right) are displayed on screen and you have to press them really quickly before the time runs out, otherwise you fail that QTE. sometimes you have scope to make a mistake (in a chase or fight scene) and sometimes you have to retry the scene again (falling off a plank or bridge high up in the air).
it's also a term of endearment used between davidoff and i. kind of like "cutie" but geekier.
"Man, I've done this QTE a million times and I still can't get it right!"
"Tehehe....you're such a QTE"