It's an acronym for Delete your Facebook. The proper use for dyfb is when one says something that you find offensive or just flat out dumb one would respond with dyfb or delete your facebook.
It works on many levels due to the fact that facebook is such a social norm that without one you basically do no exist. It's almost like telling someone to shutup or to go die.
Boys who enjoy yaoi (a genre in Japan that contains sexual and/or romantic relations between two men); literally translates to "rotten boy"; corresponding female : fujoshi