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When somebody pulls an asshole maneuver while doing any activity wrong. It could refer to driving, lying, having sex, playing video games, mentioning another girl's name in bed, playing a musical instrument, etc. The etymology of the word came from the reaction of an asshole offending and pissing you so much that you wanted to pour octane on their house and ignite it.
Phoebe (while driving): Did you see that asshole cut me off?
Rachel: Yeah, that BASTARD!
Joey: I think you mean to call him an OctaneBlue.
Phoebe: That's right, he's such an OctaneBlue.
Phoebe: (Screams out the window) Yo OctaneBlue, I'm going to burn your house to the ground!
by FriendsFan2013 November 12, 2011
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