It typically begins with the initiator; the initiator will perform an act, ask a question, or make a statement causing the observer to think; did this really happen, was this really asked or was that really said, this thought is always followed with a facial expression, (raised eyebrows and small or large grin) that then causes the initiator to realize that a Libby Moment has occurred even if the initiator is not sure of the exact cause of said Libby Moment. The audience comes into play later when the observer tells their account of the Libby Moment, and everyone has a good laugh about it.
Observer: (raises eyebrows and smiles:) that would be wifi
Initiator: oh no you’re going to tell everyone I ask this aren’t you.
Observer: you just had a Libby moment it's all right.
2)Observer asks Initiator, “hey man is that a hicky on your neck”
Initiator: no I was running late this morning so I thought I’d save time by ironing my shirt while I was wearing it and I burned myself
Observer: So you actually thought about this before you did it. (raised eyebrows big smile), and by the way your shirt still looks like crap.
Initiator: Darn it, I had a Libby Moment didn’t I.
Observer: you had two, first with the iron, then you told me about it.