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1.
phrase used widely by teenagers and young adults in the mid 90s as it was made popular by the comedy geniuses Stew Lee & Richard Herring.
they used it mostly in the second series of their hit tv & radio show 'Fist of Fun'.
It means basically to want everything, if you want the moon on a stick then you want everything, including things you can't have.
Rich: you wanted the moon on a stick...well look! i went up and got it for you!

Stew: but i don't want it!
by Lucy-fer in the sky with diamonds January 01, 2005
252 42
 
2.
when one wishes to have it all
"would you like anything else? the moon on a stick perhaps?"
by anonymous September 10, 2003
136 39