A phrase used to acknowledge something you previously were unaware of. Mainly used by people with no intelligence and that are dickheads or have serious problems with their testicles as their jeans cut off all blood circulation to them.
a "spicy weenie" is a penis that is "hot" around campus and gives women a red rash, similar to if they were to pour siracha in their vagina causing immense pain.
Erin: Oh look at Jake!
Jennifer: Don't mess with him he has a spicy weenie.