A type of poem delivered at the funeral of a douchebag, to lament his or her useless, counter-productive, pointless, or otherwise worthless life.
It is usually spoken by a person with intimate knowledge of the deceased douchebag's life and times, yet no sympathy for the d-bag's fate.
Borrowed from the greek word 'eulogy', meaning literally 'good words': this is an modern adaptation of the term, first heard on the awesome Bugle podcast on May 6th 2011.
Oliver: This episode is not so much a tribute to Osama Bin Laden, as it is a phuqeulogy ("fuck-you-lo-gee") to the big man.
George: Get 'er done! (sips beer)
Barry: Mission Accomplished... (pretends to blow gun-smoke off his fingers before holstering them in the presidential pocket)