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This is the ever-popular stfu (shut the fuck up) spelled out. After all, if you are too goddamn fucking lazy to say 'shut the fuck up' so you have to say 'stfu', why don't you just shorten it up even further and say 'stiphu'
"Dude you are fucking gay."

"Dude, stiphu."
by Seraph November 16, 2004
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