Language is a constantly evolving and developing construct. Old words become obsolete as tools, techniques and ideologies fall out of fashion, and new words come into being as technology and human knowledge advances.
This phenomenon is apparently also emergent within peer interactions. As a close friend and I have observed, we have already forged some new words that outsiders would doubtlessly find difficult to decipher, and perhaps in some cases downright amusing. However, it will only do good for us to record these processes now, either for the purpose of our future remeniscence, your entertainment, or something bigger than both of those that underlies the growth of human Germanic Anglo-Saxon language.
Shakebab [Shaa-kee-baab]
[n.] A mutant portmanteau of "Shakespeare" and "kebab". First used in conversation set in a world where Justin Bieber is cast as Romeo and Rebecca Black as Juliet, which would cause Shakespeare to turn in his grave at a constant speed throughout the entire season, not entirely unlike one well-known Middle Eastern cuisine.
Initially only applied to events and situations pertaining to the Bard, this term may now be used across contexts that would cause unrest with any of the dearly departed. Alas, poor Yorick.
Image from http://wiki.punahou.edu/groups/learninglogs8zenglish/weblog/76c32/March_Through_Visuals.html