It's another way of saying "aw crap"

Noun. When a midget begins to turn into a crocodile and her soon-to-be scaley vagina releases a poisonous milk. And when said milk is put through centrifuge, droplets may be spilt.

When you spit in it dribbles at the same time .

Juice from a wet fart that sticks to your arsehole

When a person is on their knees, jerking off two dudes, and they get themselves covered in their spit-lube.