it's the spanish version of "suck it" it is used to express that you won't do what you are asked to do.
by Juan F. Palacios Retamales July 26, 2006
A salutation received with warm regard due to its familiar hang-loose resemblance to the Hawaiian Mahalo (meaning gratitude, admiration, praise, esteem, regards, respect). In actuality, it is an insulting acknowledgement reserved for intolerable jackasses. Spanish for “suck it”, it is the perfect way to greet your favorite moron. You’ll not only get the satisfaction of telling him to suck it, but the ignorant douche bag will unwittingly think you’re being cordial and neighborly in the process.
by Balsdeep April 01, 2010