Used to describe being targeted by a particularly clever insult or witticism that uses a portmanteau, or combination of two or more words, as a punchline. It can also be used sarcastically, for example after an especially weak pun.
The word is a portmanteau itself, of "portmanteau" and "owned." As a result, timely usage of the word can count as an example of itself.
"Dude, there's a poltergeist in my chicken coop!"
"Don't you mean a...poultrygiest?"
"Oh, shit, I've been portmanteauwned!"
Nickname given to bales of marijuana thrown overboard or out of airplanes. Origin is reportedly from members of the US Coast Guard in the area of Southern Florida.