It refers to the Shakalambey gang (The Lyceum Basketball Team) or the song 'Shakalambey' sung by the Shakalambey gang.

The song is sung at Lyceum Sports Events and outings.

All created by The Lyceum Basketball Team - batch of 2010.
Lets sing the Shakalambey!!

♬ ♪ SHAKALAMBEY BABAMBA LAMBEY ♬ ♪

Dude, those guys are copying our Shakalambey.
by Pandamania September 29, 2011

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