Literally means 'garlic and water' in Spanish, but it is actually a contraction of 'A JOderse Y AGUAntarse', which can be taken to mean something like this: 'you fucked up (or you got fucked up), and now you'll have to deal with it'.
Juan: La engañé a mi novia con otra. Pero ella se enteró y me abandonó.
Pepe: Ajo y agua.
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