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1.
1) An expletive denoting the absurdity of the situation.

2) A term applied when something of little importance is valued more than it should be.
1) John: What in the name my saggy left nut do you think you are doing?

2) Jack: This is really important! We need to fix this now.
Jane: Yes, or else you will certainly lose your saggy left nut.
by The Killer Squirrel August 24, 2010