A two-word phrase used as an entertaining filler during a conversation. It is NOT commonly used to revitalize a dead conversation. Rather, it is used to liven up an already good conversation or to emphasize that the listener (the one using the phrase) has stopped listening or is ready to change the subject.
Woman: "I'm really hungry. I haven't eaten all day. What should we have for dinner tonight?"
Man: "Vagina cakes."