Usually preceded by "you are the", a title of praise for someone who has done something extraordinary. Functions identically to a host of other congratulatory expressions, such as "you kick ass," "you're the Man," "You're a champ," etc.
When you shit in a plasticbang, ties a knot on it and smash it against the wall 'till the bag breaks.
"Oh my God, son! Why've you been whipshitting in my car!?"
"The russian boy, Joseph, was expelled from school for whipshitting rector's office several times"
A person you hate intensely not because they deserve such hatred but because they serve as a focus for your general hatred. A healthy way to dispense with excess animosity.
Jake's not really that big an asshole. He just serves as my hate sink.