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Glazed Up DoughNut Challenge 

A notorious challenge involving a group of 2 or more friends where someone microwaves a glazed donut, fucks the donut hole until they bust, adding an extra glaze to the donut, often referred to as double-glazed. The donut is then fed to a friend who must eat it in its entirety to complete the challenge.
Person 1: "Yo Mat, are you trying to do this Glazed Up DoughNut Challenge with me and Mark?"
Person 2: "Sure, Bro!"

Gazed Up 

The words "Gazed Up" means that someone is hyped up and ready to do something.
I'm gazed up to buy this drink.