Not a chinese name for a man. It's a name for a person who gets the first letter of each word muddled up with the first letter of the next word that comes after it.
Fred:'Ooh Bob shall we go to the par cark?'
Bob:'Ha ha you Wong Wayer.'
Something that a total idiot says when he has nothing better to do with his life. Usually a good indication that someone needs to develop some maturity and/or conversational skills (probably both).
Joe: "Wong Tong Poddle Dip!"
Mike: "Uhh dude... get a life"