Something that is outrageously awesome.
That 55" LED TV is cheese fry
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The act of enjoying yourself thoroughly.
* Derives from the act of eating Fayze's in La Crosse.
Tim: "What are you doing Steve?"
Steve: "I'm just laying on my couch watching a movie"
Tim: "I'm at work while you're just sitting around ranchin' it up without a care in the world!"