A bag of Miky Ways is an extremely happy occasion once it happens to you, but for anyone within earshot it is one of the scariest occurences, if not the scariest in their entire lives.
It mostly includes monsters and bloodcurdling screams of friends.
A: "Oh, shit! I have a bag of Milky Ways!" (Happy/Surprised.)
B: "Waaaahhh!!!! Aaaasadkjhkjhhh!! Aaaahhhhhh!!! (Mortified)
Well Arnt You A Bad Cunt, also known as WAYB (Well Arnt You Bad). Most commonly used by Aloys boys (Milsons Pt., Sydney) in response to an embarrassing situation in which somebody is being incredibly bad.