Also spelled dick cheese. It means smegma, which are cheesy substance composed of shed skin cells, skin oils, and moisture that occurs in male and female mammalian genitalia. In males specifically, smegma collects under the foreskin, hence the term dick cheese.
Q: I ordered some pizza, but for some reason they smell like shit.
A: That's dih cheese, dipshit.
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.