Something you say when someone is boasting/threatening you and is acting like a bastard. It can also be used as a joke. It's pretty rude, and is also a quote from Austin Powers, so you can follow it up with something really dumb to say and everyone will think you'reREAL funny.
Dr Evil- You Ain't all that in a bag of potato chips!
President of USA- What??
Dr Evil- Don't go there girlfriend *click* Mm Hmm!
Scotty-Dumbass!
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.