An extremely anglicized version of "Merci Beaucoup", which means "Thank you so much". Usually used by French students and Frenchies to confuse their English counterparts. A word used often in Franglais.
Girl 1: Hey, donne-moi your devoirs, I need to copier.
Girl 2: Sure! Here you go.
Girl 1: Mercy buckets.
Girl 2: Sure! Here you go.
Girl 1: Mercy buckets.
by lenamarie November 28, 2006
When every time you and your partner have sex, you cum into a bucket. Then you take turns pegging eachother with increasingly large strapons until one of you calls out for mercy. The loser gets the bucket poured on their head. Especially popular in American Samoa.
by Thaddeus P. Heizenwalder January 3, 2017