An expression used to describe somebody who is incredibly cheap and will rarely lend money - by wearing spandex pants they are being a tight ass
Friend 1: Hey man could I borrow a few bucks for the train?
Friend 2: Ummmm... I'd like too but I'm broke.
Friend 1: Woah somebody has their spandex pants on!
In my experience when I was growing up," Liar Liar Pants On Fire" refereed to the ass whipping you would get if your parents caught you lying.You felt like your pants were on fire afterwards
Mom yelled"Liar Liar pants on Fire" when I was caughtlying about skipping school.
A game that can be played by using the name of a movie, band, song video game, etc. This game is mostly played by kids in school, people wanting to passtime because there is nothing to do, and etc.