A complete and total dork or someone who acts like a dork; applies to smart people who have momentary brain farts, or "blonde moments", if you will. Derived in part from the word sped, meaning Special Ed, which can be offensive to some, but shouldn't be because we aren't really busting on the handicapped. We're busting on the "normal" people.
"OMG I totally forgot to do my essay! I'm SUCH a spedmonkey!"
"You spedmonkey... you left your keys in the door again!"
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