Free Shit Pool (a contest where a bunch of people put together prizes i.e. money, cards, or collectibles and month by month someone randomly wins something)
Stands for "Fuck, Shit, Piss" This is used when something extremely unpleasant presents itself, and unfortunately Great Aunt Ann is in the room, so you're forced to use an acronym.
Setting - Family Gathering
Aunt Milda: "Oh Laura, watch out for ..." (Little cousin Billy dumps his steaming bowl of Spaghetti O's on Laura's lap)