It is when you get head (blow jobs), for the rest of your life from someone. It usually comes up from a crazy bet to win a football game or something else stupid.
Bristol: we are going to lose
Pat: no we're gonna win.
Bristol: ...we re gonna lose
Pat: okay well if we win then you owe me head for life, and if we lose then ill buy 50 cheeseburgers from McDonalds.
Bristol: okay fine 20 min later and after the team wins
Bristol: fuck
Pat: haha hell yeah
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.