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It is on like donkey kong 

It is on like donkey kong is not a saying.

party like it is on sale for $19.99! 

Party real hard.
origin: Apu from "the Simpsons"
I'm gong to party like it's on sale for $19.99. (say it in your best Indian acent)

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Hpnotiq (this is how it is spelt on the bottle) 

a blue liqueur that consists of cognac, vodka and tropical fruit juices, it can be drank straight or mixed with hennesey to make a drink called an incredible hulk
I went to the bar and had a glass of Hpnotiq on the rocks.

What is it on? 

Mean's what's going on or what is the plan.
"Fam tonite, What is it on?"
"Man's goin to link that bufflink from last nite ya get me?"

Is it on the tip of your tongue? 

When you can't get the words that you want out, So you begin to stutter. So when you say "Is it on the tip of your tongue?" suggesting that a dick is one the tip of your tongue. You must do a gesture showing that you are putting your penis on the tip of their tongue. No Homo
Ryan: My mom said that you guys need to auh auh auh

Ralph: "Is it on the tip of your tongue?" (Hand gestures showing that he is no homo holding his penis hencing that his penis is on the tip of his tongue) this is all no homo.