It has most recently been adopted by Devil May Cry Hero Dante.
It's most frequent use, though, is when nerdy 13 year old children believe it to be hilarious fun to exclaim SLAM DUNK whilst facing up the school bully. This, more often than not, leads to a swirlie.
School Bully: Yo, Imma slam dunk your head into dat dere toilet. Fo shiz.