Having sex with a milf or cougar who has kept that pussy behind rusty gates for a while -- metaphorically speaking. If the milf or cougar in question has literally kept the pussy behind rusty gates, you do not want to break the chain off it.
Stevie Nicks? You know it's been a while, but I'd definitely break the chain off it.
Short-hand for the word floccinaucinihilipilification, meaning the estimation of something as valueless (encountered mainly as an example of one of the longest words in the English language).