this saying has its origins in the 70s love movement and was made really famous by Cheech & Chong in the 80s through their marijuanha films.
It does not mean OMG or awesome. It's a stand-alone phrase, usually preceding the phrase that will describe the object or situation that's freaking you out, blowing you away or leaving you at a loss for words.
It's present tense, denoting something that's actually happening and feels like it is beyond incredible.
Holy mother of pearl! Look at those tender young asses(on the beach);- cops in helicopter shadowing Cheech & Chong.
another term for a station wagon, mini-van, or any other kind of vehicle that is targeted at the "family" demographic(also M.A.V.)
"Tactical advantages aside, the M.A.V. is top of the line for the holy warrior troop transport manufactured by the Church of Latter Day Saints Military Industrial Complex. Also great for family trips...to heathen lands."
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.