It is spanish for "I don't speak English" and happens to be the best excuse for getting out of everything and anything. It can be used to get out of nearly every awkward situation. The concept is further explained and demonstrated in the song "No Hablo Ingles" by Bowling For Soup.
Means "I do not speak Spanish", implying that you are cunt for speaking anything else other than the god-blessed language of English. Fuck everyone who doesn't speak perfect, fluent, grammatical English! Fuck them all!
It is a way to say "I speak English" in Spanish. For an example, "yo hablo Espanol" is how you say "I speak Spanish" in Spanish. If your wondering how I learned that,it was from Duolingo. Yes Duolingo