A whimsical and exaggerated way of saying excuse me. It's the kind of phrase you might use when you're trying to be deliberately over the top, like if you're playfully interrupting someone or reacting to something surprising.
Erm Exsqueeze Me Sauce, but did you just eat the last slice of pizza without asking?
This word is used when a cool awesome amazing person who eats food and wants to talk to a randomo like Josh Walker or Ryan McKellar or even Edward Hamilton