Noun. An inaccurate statement of information usually obtained by a third party source. Spoken with extreme confidence to make it actually sound plausible.
Dude did you hear about the guy that 904ed a F/A-18 at Cherry Point? Nah...bro that's just bad Monch Gouge
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).