When one of your friends decides to peace out abruptly and unexpectedly, usually leaving you with the tab, without a ride, etc... they pull "The Fez."
Justin: "Hey dude, Moe said he's down to be our DD tonight!
Andy: "Hell yeah!"
Justin: Shit I'm drunk, where's Moe???
Andy: He left because he said he had to be up at 4:30am for church, now we have to get a cab!
Justin: Damn! He just pulled "The Fez!"