It's origin is said to come from a man trying to mind control people by putting radioactive material in his popsicles and the story continues, but the source "Evil minds of the 1900's" is actually not verified, you can google it if you want, so this story is very likely to be false. For full story read the definition by "Not Zane".
A way to say to a group of friends or whoever you're with that you think it's time to go, leave a pub, bar, restaurant or anywhere. Although it may sound like the place your leaving is rubbish or crappy, it doesn't have to be the case. It could be used when its time to move on after a great night out.
Nic "Great place this but shouldn't we get tothe party soon?"
Mike "yeah lets blow this bunghole"