Originated from The George Washington University:
To make loud rhythmic clinking noises from above a room, so as to scare people and make them think there is a murderer with an ice picker picking their way through the ceiling.
*clink clink clink* "O NO! It's the Foggy Bottom Ice Picker!"

"The people upstairs are doing it loudly."
"Shit! It's too rhythmic for fucking, it must be the Foggy Bottom Ice Picker!"
by Kingston's Shawty September 7, 2009
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