1. A segway leading to a good thing or immediately proceeding a good thing.
2. An exclaimation expressing joy or satisfaction in a situation. Usually is based on the humiliation of another person, much like pwned. Correct use involves a long rant or insult with "bickitybam!" added to the end.
So I was making out with this girl at the party, bickitybam, we'reback at her place makin nasty."