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Failcake 

1. A proverbial cake served to someone who has made a major mistake

2. Used to celebrate a massive fuck up

3. In gaming speak, it is served to a loser after they've been pwnd
The staff members who missed Monday's important board meeting got a failcake.

Congratulations on totaling your new car while driving drunk. Have a nice slice of failcake!

I assassinated your player and served him a failcake. You have been PWND!
Failcake by Panasonicyouth January 4, 2008
Related Words
When you are mistaken about one's flaws, either over or underestimating someone.
Tessa was flistaken about Sabina's OCD issues.
flistaken by MaRockOOOO July 16, 2009

Failcakes 

Another word for fail that is slightly more cute and endearing. A slang term.
1: "OMG that movie was so failcakes"

"Yeah, I know"

2: "Then I tripped over and fell on top of him"

"Failcakes!"
Failcakes by Indigo Starr March 26, 2010

Failsafe 

To avoid, at all cost, any situation that might remotely result in a failure on your, and your liabilities, part.
Example 1:

Stan: "Hey man, let's go to the mall, I want to get something to eat."

Sami: "Nah man, you're only hungry because you have post-high munchies. We should wait at my house before we go out anywhere. Plus, I have some Doritos at home you can munch on."

Stan: "Sweet, failsafe."

Example 2:

Sami: "Hey Charlie, can me and my girlfriend skip school at your house?"

Charlie: "Sure, but you'll have to leave before 12, my mother might come home early for lunch. Gotta be failsafe man."

Sami: "Word!"
Failsafe by Sami Philadelphia October 6, 2009

FailScape 

Slang term for the MMORPG Runescape, after multi-way PvP killing was removed.
Guy 1: Hey dude, Runescape has gotten boring.
Guy 2: Runescape? More like Failscape these days.
Guy 1: Touche.
FailScape by Hardvolume February 26, 2008

failcake 

failcake= piece of cake (assignment,task,or etc.) + epic fail (you're a looser)
"Your shirt is inside-out."
"Failcake!!!"
failcake by xlilxstrawberrix April 8, 2009