A Magikarp Moment is when you have the expression of a Magikarp's face on your own. This usually occurs when you are stumped, in a state of shock or embarassed.
Jim: Hey Bob, I logged on to our computer this morning... And somehow a picture of you with 5 brazilian-shaved men and a guy dressed like batman in assless-chaps popped up...
Bob: (Insert Magikarp Moment)
Bob: (Insert Magikarp Moment)
by Everfrost July 2, 2011