A phrase uttered in order to be a smart ass when someone attempts to get your attention using your name:
"Hey, your name" or just "your name"
To "wear it out" refers to the act of "wearing out" shoes and other clothing. To use something repeatedly until it loses its durability, polish and novelty.
The phrase was popularized originally by boomers in the 50s. See: boomer musical "Grease," for unironic usage.
It resurfaced as a campy, ironic echo of its former glory after famous/infamous child entertainer Pee Wee Herman used it in his show Pee Wee's Playhouse. Decades later this caused millennials to say this phrase very rarely, but with great smugness and underserved pride.
Jim: Hey Peter ca....
Peter (interrupting): That's my name, don't wear it out !!
> Peter suddenly appears overtly proud of himself and bears a somewhat condescending grin on his stupid face
> You would respond with a scathing comeback or possibly violent beatings, but you are too confused with Peter repeating a strange laugh and looking at you like you should get the joke
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lfg is quasi-hotly debated to mean "looking for group" or "let's fucking go"
However the academy notes: upon collapsing both phrases to "lfg" their meaning is indeed synonymous.
e.g. One only poses the imperative, "Let's fucking GO!!!!" -- at such social junctures wherein one hopes several individual parties will come together and cohesively "GO!!!!" do something.
Conversely, one only broadcasts the intent "Looking for Group" -- at such social junctures wherein one hopes several individual parties will come together and cohesively go do something.
Therefor, lfg means lfg in all contexts where either lfg or lfg is used; you may consequently tell others to stfu about lfg, imo.
Brosky: bro lfg. need to get out for a drink
Brochacho: aight meet u at the place