It is a noun with at last four meanings:
1 The study or art of creating new words.
2 The act of introducing a new word into a language.
3 The use of an existing word in a new way.
4 The holding of novel or rational religious views. (Although this definition is now largely obsolete.)
1 Neology is a hobby of mine.
2 I’ve just had a new word accepted by the Oxford English Dictionary. Neology!
3 Urban Dictionary is a catalyst for neology
4 Believing that we are all just the dream of a sleeping cat is not necessarily a neology.
When some resigns or retires from a job, they are on "eternity leave". This can also refer to someone who has passed away, especially someone who worked somewhere for a long time, retired/resigned, then passed away later.
Oh I'm sorry, you didn't know that Kelly is on eternity leave? She resigned and moved to Hawaii!
With regrets I would like to inform you that my boss is officially on eternity leave. I will never see or hear them again. Ever.
The hypothetical man (often a sinistercharacter who decided not to go to boot camp) that is doing your girlfriend/wife while you are on deployment overseas.
Ain't no use in goin home,
Jody's got your girl and gone.
Ain't no use in goin back,
Jody's got your Cadillac,
Ain't no use in feeling blue,
Jody's took your checkbook too.