a) Used in exclamation after witnessing something exciting, cool, or interesting .
b) Used to purposely embarrass oneself.
c) Because of it's first letter, you can smoothly change the f-word into Floogenhooser under circumstances where the f-word would be less than appropriate.

to chop off a grown mans big toe

An all around great word. Just say it. Go ahead. You can do it. GOOD BOY! have a cookie!