when something is so ridiculous that it has to be described in a 90's fashion. The adding of the extra syllable makes it a much more emphasised word and can be used to show anger, respect or for general whimsy.
matt: dude, i need to get some sleep
elliot: i know man, all the noise upstairs is keeping me awake.
matt: why won't they shut up!
elliot: mate, this is getting rickydiculous now, keep the noise down or i'm fetching the broom.