To hit someone with that "Yeet Yaw" is to imply that they simply just embarrass you. In basketball to break someone's ankles is to hit them with that Yeet Yaw. Often performed by black people and or Joe Montana.
Black male: *crosses white guy*
Other Black Male: AYE!!! HE HIT HIM WIT DAT YEET YAW
*OTHER EXAMPLE
Announcer: Joe Montana drops back, here comes the pressure!
Announcer: Oh my goodness Joe Montana what an amazing move, HE HIT EM WIT THAT YEET YAW.
A race where two men have to ride a mechanical bull while jacking eachother off (not gay). The participants win if they manage to ejaculate before the bull yeets them onto the ground.
Straight guy 1: Hey man, did you see yesterday's yeethaw?
Straight guy 2: Yeah bro, they didn't last very long.
Straight guy 1: haha that's funny because it can mean 2 different things.