A tribute to a favoured Canadian whiskey. "Rye Not" is a phrase used in response to a question about a shot. It can also be used in response to a drunk friend's question, similar to YOLO without the douchbaginess of said statement.
"Eh! Do you want a shot of rye?!"
"I wasn't that into him, but I was absolutely shitfaced and thought, Rye Not."