decepticon

An emoticon used to alter the emotional content of a message so that it appears to have a different meaning than the sender's actual intentions.

Often, a decepticon is used to "soften the blow" of bad news or to veil a threat.
IM Conversation:

Boss: "If you don't work harder, there might have to be another round of layoffs :)"

Employee: "Were you really smiling when you typed that, or was that smiley a decepticon?"
by inspired_tmu September 30, 2011
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