An exclamation and/or warning given to another over the unintended sexual innuendo of an otherwise innocent phrase.
Commonly heard by various characters on the animated FX television series, "Archer".
"You wanna play me hard?" "Phrasing." "Well, then you better nut up!" "Phrasing!" "I've swallowed just about as much as I can take from you!" "PHRASING!!"