After blowing up a balloon, it is the act of releasing the balloon from your grip and letting it fly around the room deflating itself...hence making the "Ploogled" sound.
Jayme: "Here, hold the balloontight"
Cort: "Oh no, I let go"
Jayme: "Shit, you ploogled it!"
Balloon: "PPFFFBBBBFFSHHH"
Jayme: Ha, its ploogled.
A game in which multiple men look up random words on google images. In doing this act they place bets on which page there will be porn on. Winner takes all. *Make sure safe search is off