Seemingly derogatory term but often used with affection. In the classic sitcom Malcolm in the Middle, the brothers call each other buttmunch but with a smile and a pat on the back. The word can also be used as a sexually suggestive term, using it on someone you would actually like to munch on your butt.
1. Reese to Malcolm: Way to go buttmunch! I'm proud of you!
2. Reese to Malcolm (pulling down his pants): Hey buttmunch, dive in!
When you have to pee in a movie but don’t want to miss anything, and must do the following mental equation: will the amount I have to pee cause enough discomfort to diminish my attention capacity for the remainder of the movie to an extent which is greater than the amount of the movie I would miss by making a mad dash to the restroom.
I saw Satantango last night, wonderful film but by the 5th hour I had to start doing pee calculus.
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).