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To erase something and replace it with something else.

Used as a joke when fed up or not wanting to deal with a particular person.
"That damn kid pissed me off at brunch today. I'm gonna erase and replace his ass"

Obama supports the erase and replace plan for a better america.

"I would like to erase this reality show and replace it with more supernatural!"
by Crazy Word Bitch September 17, 2009
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