Lame phrase thought up by internet nerds who have nothing better to do than sit on IRC and create catch-phrases from other people's typos. A pop culture thing.
the new lame-ass computer game that we're all obsessed with is TEH WIN!
steam player 1: where are yoo
steam player 1: theres just the two of us
steam player 1: muhaha
steam player 2: IZ SEE JOO FAGGOT * steam player 1 recieved shot to the head by steam player 2
steam player 2: I AM TEH WIN1111111one