Referring to something as complete utter bullshit, but using the phrase in spanish slang, hence Hay Coño. This phrase was made famous and popularized by the great Domingo Ayala.
Pushy Nerd: "Hey you got an F on that 500 point project that determines 3/4 of our second semester grade. Hahahaha."
You: Hay Coño!
You: Hay Coño!
by tarduno April 23, 2011