A non sequitur interjection meant to imply ADD (attention deficit disorder). So called because it seems the stereotypical thing a young girl might scream when having her attention distracted by ponies. Common in many online forums.
Wow, I just read in the Washington Post about a secret US plan to attack China. Now this would obviously be a terrible--OMG! Ponies!!!
When you have to pee in a movie but don’t want to miss anything, and must do the following mental equation: will the amount I have to pee cause enough discomfort to diminish my attention capacity for the remainder of the movie to an extent which is greater than the amount of the movie I would miss by making a mad dash to the restroom.
I saw Satantango last night, wonderful film but by the 5th hour I had to start doing pee calculus.
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).