A old person born between 1930 to 1960 who is usually steoriotypically depicted as a white, racist, male with white hair who sits in a recliner for most of the day, complains about his back problems, forgetful, doesn't care about pollution at all, is grumpy, & yells at teenagers for stepping on his lawn. The term has been around for a while, but it hadn't become a meme term until it became a meme from an episode of the office, as shown in the GIF.
Gary: Go take out the trash, sonny.
Sonny: But I don't wanna take out the trash, I just mowed the front AND back yards.
Gary: You are going to take trash out, and you are NOT GOING TO COMPLAIN YOUNG MAN!
Sonny: Okay boomer.
Gary: wHaT dId YoU jUsT sAy SoNnY!?!?!?!