This was a word made up by the folks who produced the movie Mary Poppins. If you listen to the lyrics it says if you say it loud enough you'll always sound precocious. And Precocious only means: Manifesting or characterized by unusually early development or maturity, especially in mental aptitude... So, you'll sound smarter than your years.
It's a nonsensical word that baffles people into thinking you're smarter than you actually are.
A ficticious word that has been defined thus making it a reality.
A word to be used at any point in a conversation when one does not know what to say or is bored of the other persons ramblings. A sure fire way to be the only one stnading alone at a party.