One says this word instead of screamign very loudly "I LOVE PATRICK STUMP!" ten or fifteen times in sucession.
(Patrick Stump is the lead singer/guitarist of the popular pop-punk group Fall Out Boy. This phrase is most commonly used by the boardies on the FOB Rock Message Board.)
If one sees a sexy picture of Mr.Stump, one says, "Oh my god, Patrickgasm!"
This word is used when one sees a sexy yummerific picture of Patrick Stump (lead singer, guitarist Fall Out Boy), instead of screaming: "OH MY GOD PATRICK YOU SEXY!" 20 000 times, one simply says: "Ohemgee. Patrickgasm."
(Imagine there is a sexy picture of Patrick over there) Wow. What a sexy and yummerific picture. Patrickgasm.