In the closing scene of There Will Be Blood, Daniel Day-Lewis says this to Paul Dano to show that he has defeated thee.
A line that would not nearly be as memorable if it weren't for its pitch-perfect delivery.
"As a sports metaphor? (“Let’s face it. The Celtics drank the Knicks’ milkshake last night.”) An amorphously obscene double entendre, hearkening back to its Kelis-ian roots? (“I’d like to drink your milkshake!”) Or maybe, in a nod to the godlike venom of its utterer, a taunt: “You best back down before I drink your milkshake, bitch.”
--nymag.com
Used when one person absolutely destroys somebody else on a skill based level. It can be only used when the superiority of one is taken into consideration, and proved to be unreliable.
When playing battleship, and your battleship is sunk, the other player would yell out "I drink your milkshake!"
May I have an order of regular degular buttermilk pancakes? Without all the added jazz? Hold the blueberry smiley face, strawberry glaze, chocolate chips and whipped cream.