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1.
Used when ecstatic as exclamation. Can also be used when there is nothing else to say, see meep. As a noun, it refers to a light, harmless tease.
"I got an A+ on this test!!!! SPUGUNK!!!!"

"I'm bored."
Pause
"Spugunk"

Person 1: (teases gently)
Person 2: Don't you spugunk me!
by meepmew9191 January 17, 2012