A word that can be used to mean anything in any context so long as it carries a slight negative connotation. Note the hilarity is not derived from the actual meaning of the words, but rather the cumbersome nature of the phrase.
Guy: Dude, she is so fat
Guy2: Hahaha yeah, what a slug abuse!
Guy: Man, I'm not really feeling this jacket, it's kinda...
Guy2: Yeah, it's pretty slug abuse
Guy: Yeah, slug abuse