1) something does not go to your liking.
2) something was out of the ordinary, or in question.
3) something involving a snake (which could mean either a good friend or a thief/liar; see snake )
4) the possibilities for this term are quite vast.
5) another way to use this would be to transform tomfoolery into another form. e.g. - What is this Tom Snakery?
Student: Wow, that is a game of snakes.
Friend 1: A cop just pulled me over when i was wasted but i got off with a warning.
Friend 2: Talk about a game of snakes.
Human 1: All my co-workers were huddled up laughing about something, so I went over to them and asked "What is this tom snakery?"