That word you only know exists thanks to the movie "Akeelah and the Bee".
Dr. Larabee: Alright, Akeelah. Please spell "prestidigitation".
Akeelah: P-R-E-S-T-I-D-I-G-I-T-A-T-I-O-N. Prestidigitation.
Dr. Larabee: Amazing! You should try to win the national spelling bee!
The man with the tuxedo and top hat performed various acts of prestidigitation for the audience at the theater that night.
The pundit responded so cleverly to his opponents that even those who disagreed with him assented that presticogitation was one of his strongest abilities.
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).