If you find less that half a 750mL bottle of svedka any time after thanksgiving, you must get on your knee and chug the rest of the bottle. When you finish drunking you take off your shirt and run through the hall yelling YAHOOO.
“Oh my god Josh just did Santa’s Svedka Challenge that was wild.”
“Holy shit do you think hes gonna puke?”
Commonly translated as goodbye (in Russian). That's not wrong, but not exactly accurate, either. "See ya later," would be closer, or more formally, "Until we meet again." Literally: "To the meeting."