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Definitions by OldPossum

Ze Great Buttholio 

An epithet that stems from that of the popular magician Harry Houdini (Ze Great Houdini). This comical phrase is growing in popularity on the east coast, and is most frequently employed when the speaker wants to achieve a hilarious non sequitur.
Stephen: "Hey, Fernando, have you done the math homework yet?"

Fernando: "I am Ze Great Buttholio!!"
Ze Great Buttholio by OldPossum September 24, 2011