1.) A condom.
2.) More specifically, a condom that has been inflated (usu. by mouth) and tied, thus becoming a balloon.
"We got a fuckballoon from the library bathroom dispenser, inflated it, and tossed it around in the street until, when Nik tried to catch it, it popped. He declared, loudly, that he'd just gotten the whole world pregnant."
"Sometimes I think Nik uses his skull to store used fuckballons in."
A religion created by a bunch of bored guys at GT which sole belief is that you are fucked over by an unknown force from the day you are born until the day you die.
Fuckallallogy (pronounced Fuck-all-ology), is an area of study where you learn to do absolutely FUCK ALL. Fuckallology can be taken as high as Doctorate (Dr.), at this level individuals will have mastered the art of doing fuck all.
Oh, you've been jobless and on the dole for house many years? 5? You must have a doctorate in Fuckallology!