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The Mermaid Theory 

a theory that a woman, no matter how ugly she may seem at first, will eventually look beautiful to you if you see her every day all day.

Based off the theory that sailors used to spend months at sea and started to slowly see manatees turn into mermaids.
Joe: Dude Kelly is so hot!

Tim: Are you nuts?! It's probably just the Mermaid Theory. you have her in every class.
The Mermaid Theory by Fatchooo January 20, 2011
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Mermaiding 

Like a catfishing, except the person is real but their intentions are to ruin you financially, emotionally, steal your identity or con you in some other way.

Back in the day, mermaids where thought to lead sailors to their doom by leading them to dangerous storms, crashing upon rocks, or dragging them down under the sea.
I finally got in the DMs with that hottie Mercedes, but all she wanted was for me to get her Snapchat premium.

She was mermaiding me this whole time.
Mermaiding by Savage Sage August 5, 2019

Mermaid Man 

Semi-retired superhero in animated cartoon series Spongebob Squarepants.Lives in Shady Shoals Retirement Home with his sidekick Barnacle Boy. His first name is Ernie, in tribute of his voice actor Ernest Borgnine. Various episodes in the series show Mermaidman as having extreme short-term memory loss and having a strange obsession with the word “Evil” ,being some kind of trigger word.

There have been 6 episodes in the”Mermaid Man & Barnacle Boy” arc in the series’ first 4 seasons, and have appeared in several other episodes afterwards.Mermaidman was voiced by Ernest Borgnine until his death in 2012.

Honestly one of my favorite characters in the show and “Mermaid Man and Barnacle Boy III” being one of my favorite episodes.
Example #1

Mermaid Man: I did it! I feel five years younger. It's good to be back.

Barnacle Boy: We did it, you old coot.

Mermaid Man: Who are you?

Example #2

Mermaid Man(to Barnacle Boy):"If you wanna grow up strong like me... you gotta leave room for seconds."
Mermaid Man by Pablonovich January 7, 2018

Mermaid Mule 

A delicious alcoholic beverage of clear Puerto Rican rum, ginger beer, lime juice, a dash of orange bitters, and enough blue curaçao to make the beverage electric blue. Served in a clear glass. Concoction created in Novato, CA by The Duchess Mermaid along with Jaqueline, an amazing bartendress.
A mermaid walks into a bar.
“I’ll have a Mermaid Mule, please.”

River Mermaid 

A slut or promiscuous person, esp. flirtatious young women who reside at cottages/cabins during summertime.
"Man, your neighbor is hot!"
"Oh, Zyn? Yeah, she's a total river mermaid."
River Mermaid by panicmania April 18, 2013

sparkling mermaid 

When a guy dumps his load on a girls face, then slaps her with a fish
My face hurt after he gave me a sparkling mermaid.
sparkling mermaid by Mike February 3, 2005

mermaid hair

Hair that is long, flowing, and has a beach-y look to it that makes the person look like a mermaid, hence the name.
Wow, you have such beautiful mermaid hair. It makes you look glorious and fierce.