a response to the german saying "schnip schnap das kleine krokodil", which means "shnip shnap (cutting/choping/eating sounds) the little crocodile", (the response means "shnip shnap you little pedophile". this is used when an adult has said this to a child, and said because it rhymes.
schnip schnap das kleine krokodile! ("shnip shnap, the little crocodile!")
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schnip schnap du kleiner pädophil! ("shnip shnap, you little pedophile!)
"Schnap!" (shortly followed by) "Hey! You! Listen!"
"Schna-aaaaaap!" (as if on rollercoaster)
"SCHNAP!" (follwed by i broke my penci, or that truck just rolled over my toe)
An exclamation often made to state the awesomeness of a situation. Often preceded by a raising of the hands and snapping of the fingers to enhance the effect.
Jason: "Graham, did you pull a Houdini on Carla for the second night in a row!?"