Stands for "oh my imaginary being". Is typically used as a replacement for other more common acronyms like "omg", by those who do not believe in a higher spiritual power (ie: "god").
Person 1: Omg, did you hear about the recent disaster on the news?
Person 2: Yes! OMIB, those poor people!
Person 2: Yes! OMIB, those poor people!
by perkyshadowgirl July 8, 2010