This phrase is most effective when refering to some asshole (usually a boss, teacher, or other dipshit) who wants to limit your fun. Could be used in the place of Fuck him/her, screw you, fuck off, etc...
My boss said that I couldn't make monkey love to my secretary on his desk, fuck em and feed em fish heads.
in the adventures of charlie and the pink and blue unicorns (aka claire and sara) the foogle fish is the tiny invisible predator that gets suckd into the vortex.