The act of being mad at someone so much that they are at that moment, "On you're last petooty" or "Bugging the petooty out of you" or in some cases, just calling someone one. One with a large amount of petooty is basically on the top of the coolio chain.
a secret password of sorts that one can only say when they are the coolest of the cool. this word has no actual meaning its rather a phrase of euphioria someone screams out if they are like having an orgasim or something.
ariana: omg last night i had some tantric sex
nina: patooty fanooty you little devil!!!
ariana: you took the words right out of my mouth bitch