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Shit in a bag and punch it 

A phrase commonly used as an exclamation of an event that has just occured.

Likely to be heard in the Northern areas of England.

Famously used in the film 51st State by Shirley DeSouza aka Anna Keaveney.
Patty: Did you know that Marsha is a contract killer?

Welma: Well, shit in a bag and punch it!

Shit in your hat and punch it! 

A sarcastic reply to someone presenting a piece of common knowledge or easily derived information as something of great importance and value.
Tinfoil_Hat "Alex Jones is saying the NWO order is messing with the water supply and food chain to control our numbers, maybe I should buy the stuff he sell's on his website!"
Skeptical_Atheist "Well, Shit in your hat and punch it!"

It's better than a punch in the face. 

A term used in a wide range of situations, from a person having to eat a bag of rubbish to something you could put in a speech.
'the definition may not give much context, but it's better than a punch in the face.'