Velveeta cheese pretty much. Usually what you say to describe what Velveeta cheese looks like after you pretend it's real cheese and try to make dip out of it.
Person1: Dude, lets make some Velveeta dip!
Person2: A'ight.
(3 minutes and 30 seconds later)
Person1: Dude! WTF is that?!
Person2: man that shit is Velevil
Velvevil is a synonym for the Kraft product Velveeta cheese, generally used by those who recognize its detrimental impact on health but cannot resist the processed cheese food. Velveeta is a shelf-stable block of bright yellow cheese product with a low melting point.
Pronounced Velv/evil, to have a similar sound to Velveeta.
Ted: This dip is fabulous, Brianna! What's in it?
Brianna: Oh, some tomatoes... beans... and (mumbles)
Ted: What?
Brianna: Don't worry about it--just enjoy.
But then... Ted spies the telltale yellow brick package in the kitchen trash. He gasps.
Ted: Brianna! You used Velvevil?!
Brianna: I know I shouldn't have, but...
Ted eats another chip with dip.
Brianna: See? You cannot resist the Velvevil.
Ted: When I'm the hospital with a heart attack, visit me.
While our lifespan is the number of years we will live, our healthspan is the number of healthy years we will have and our sexspan is is the number of years we will continue to be healthy enough to continue having an active sex life.
A lighthearted reaction upon receiving disappointing news of some sort. Usually something that isn't a particularly a big deal, esp. when it primarily affects someone else - sort of a mild schadenfreude. Sometimes doubled or tripled, and possibly said in a sing-songy voice for added comedic effect to imitate a muted trumpet, which is how the meme originated.