Incredibly funny.
Your Dad tells your best friend, mid hug, that he "LOVES" hugging young women. And your best friend's a young woman.... That's so hilaree.
What you say when your friend does something unfathomably stupid, and it bites them in the ass.
After you say this, of course, you laugh.
Friend: Oh shit, I ran off the edge of the map and lost all my stuff!
You: Disaster Strikes, Hilarity Ensues
(laugh)