A word invented by the rapper Nicki Minaj. When something is said that could have a sexual connotaion, saying "pauz" negates said connotation. It's basically the opposite of "that's what she said".
Timmy: "Damn I just got a cut and it hurts!"
Jayneil: "Want me to blow it, it'll feel good. Pauz"
Timmy: "Sure, thanks! For a second there I thought you wanted to give me a blow-job, but then you said 'pauz'".