It has many meanings. It can mean hello, cool, or excited.
This phrase was developed by a man who needed something funny for his web comic.
Oh, Dave! Fackin' like a master.
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It would be fackin' like a master to play the gamecube.
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We're about to see Michael Jackson! I'm fackin' like a master at this moment.
i like my women like i like my invinity gauntlet... with my whole hand in it
Southern US: Definitely happening, with good or exciting results.
From a club ad: "The party will be on like a chicken bone." (the party is definitely set and it's going to be great)
From a fishing tournament newsletter: "The river was on like a chicken bone." (the fish were biting really well)
To be in a very unfavorable predicament.
After the power went out while Chris was on his computer, he was "fucked like chuck"
A lie your parents tell you, usually about food.
Parent: Try it, you'll like it.
Kid: Liar Liar, Pants On Fire!
Someone who's kiss leaves you breathless.
She has lips like morphine every time she kisses me.
Originates with the 1979 movie "Being There" starring Peter Sellers as a simpleton who gets interpreted by people as if he were a genius.
The phrase is used today as a funny response to just about anything, especially sexual references.