A phrase that can be used to express extreme joy and happiness for a team win or as a team cheer before a game. Comes from the old "Thundercats" show from the 80s and 90s, that everyone watched.
"Yo, we got a 99 on our final project, Thundercats HO!"
"We must wreck this other team, now huddle up, 1-2-3 Thundercats HO!"
In football parlance, a screamer of a goal struck from distance with a high degree of power leaving the goalkeeper no chance.
That Jay Rodriguez for Burnley scored a Thunderbastard of a goal past the hapless David De Gea of Man Utd. (Cue massexodus of Man Utd fans from Old Trafford}