A word used to point out a phrase that could be turned into something sexual, similar to "That's what she said". Originated from Glenn Quagmire on Family Guy.
Me, playing Terraria: Damn, this boss is so hard!
My perverted sister: Giggity.
Lowis: "Hey Peter, go get something from the concession stand, I need something to suck on."
Quagmire: "GIGGITY GIGGITY?"
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or
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Quagmire: "How old are you?"
Cheerleader: "Uhh, sixteen."
Quagmire: "Eighteen? Alright"
Cheerleader: "Moooooooom!"
Quagmire: "I like where this is going, GIGGITY GIGGITY, GIG, IT, EE."