Originated from the term, "go around and give everyone a high five", but thats way to long for a real man to say
Cannot be initiated by the person who made the joke.
Guy2: Stop talking to me you flying cunt
Guy3: LMAO, dude rounds!
*Guy2 precedes to give high fives to everyone in the room*
My man Jim Jones said I'ma beat you till that white stuff come out. That's round homo. - Cam'Ron.