jammertime is an expression that can be used to express anything you are currently looking at, thinking about, or that exists in the relative area in lieu of that item or idea's actual name
While standing in a kitchen someone would point at a knife and say, "hey, hand me that jammertime over there." Or while discussing a previous night's activities one would say, "yeah, so we were jammertiming at that one place when....."
The full phrase is "Stop! Hammertime!" but I'm a lousy conformist, so I put it here. It is by far the most awesome phrase ever. You could make Slimer from Ghostbusters say it and it would still make sense. Its inventor was nothing short of genius as well.
'Hammertime' is a brilliant surprise attack on a romantic lovemaking session. Whilst you and your partner are engaged in some slow, passionate, romantic sex, look into her eyes, wait for her to move her head forwards to kiss you, then shout, "STOP, IT'S HAMMERTIME!" and proceed to bang her like a drum at speed while shouting, "WHOOA-O, WHOOA-O! WHOOA-O, WHOOA-O!"
Wifey - "Mmm sweetheart that feels amazing...oooh yeah...mmmmmmm...kiss me..."
You - "Stop......IT'S HAMMERTIME - WHOOA-O, WHOOA-O! WHOOA-O, WHOOA-O!"