It essentially means you have you lost your mind? or it can be used to express your hatred or dislike for a particular activity or person, similar to kms.
"Moe's is better than Chipotle."
"Have you bumped your head?!?"
or

"This traffic makes me want to bump my head."

or
"Help! I have bumped my head and I can't get up!"
by colls42 December 5, 2013
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