The act of witnessing something so traumatic or disturbing that it is futilely wished to be unseen. Most commonly experienced on 4chan
or senior citizen dating websites.
See also: eye bleach
Me: Oh hey, look, some Nigerian dude emailed me a file called BlueGoatseWaffles! Maybe its a picture of blue goats doing people stuff...like cooking waffles!
*35 seconds later*
Me: What has been seen cannot be unseen.
The squeal or gasp when on the receiving end of a kick-ass gift, refers to the general excitement of unwrapping a present. Can also be faked for politeness.
Joan let out a ear-ringing giftgasm when she unwrapped her new diamond ring for her 20th anniversary.
Kyle faked a giftgasm after receiving a homemade sweater from his grandmother.